Consumer sentiment pushed higher in early February due in part to the end of the partial government shutdown and after the Federal Reserve signal that it will pause in raising interest rates. The Consumer Sentiment Index rose to 95.5 this month, up from 91.2 in January and above the 94 expected. Within the data, it showed that consumers' long-term inflation expectations fell to the lowest level in the past half-century. In addition, consumers expect incomes to rise more than any other time in over 15 years.
In a reversal of fortune or misfortune, from whatever side you look at it, Amazon has scrapped plans to build a headquarters in New York City. Amazon cited opposition from state and local politicians. The new "HQ" was also met with protests while the $3 billion in incentives for the e-commerce giant were also met with criticism. A Quinnipiac poll from December showed strong support for the new campus, with 60% of Queens residents approving of the project and 26% against it.
In a reversal of fortune or misfortune, from whatever side you look at it, Amazon has scrapped plans to build a headquarters in New York City. Amazon cited opposition from state and local politicians. The new "HQ" was also met with protests while the $3 billion in incentives for the e-commerce giant were also met with criticism. A Quinnipiac poll from December showed strong support for the new campus, with 60% of Queens residents approving of the project and 26% against it.
Business activity in New York State grew modestly in February while the New Orders Index and labor markets both increased. The Empire Manufacturing Index rose to 8.8 in February from 3.9 in January. After slumping last month, indexes assessing the six-month outlook improved noticeably, suggesting firms were fairly optimistic about future conditions.
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