Regional Fed surveys: what do they add beyond the ISM?

The Empire State survey showed factory activity slowing with prices paid climbing to 63.1 (report). Regional surveys land early and hint at the national numbers.

Regional Fed surveys: what do they add beyond the ISM? — central bank rate path diagram
A central bank's policy rate path across recent meetings

Do you follow them?

Regional Fed surveys: what do they add beyond the ISM? — risk-reward diagram
A risk-reward ratio of 1 to 2
  • which regional surveys you track
  • how the prices-paid signals feed your inflation view
  • how you weight them against the ISM

Background: PMI explained for the survey mechanics.

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