November 16, 2020
U.S. Economic Indicators
The Empire State Manufacturing Survey indicates that business activity expanded slightly in November as the headline index eased 4.2 points to 6.3. The new orders index fell 8.6 points to 3.7, the shipments index fell 11.5 points to 6.3, and the index for number of employees increased 2.2 points to 9.4. NY Fed Report
U.S. News
The Financial Times reports that surging coronavirus cases across the country pose an imminent threat to the U.S. economy amid new restrictions on business activity without accompanying fiscal support. President-elect Joe Biden is calling for urgent action on new stimulus to support businesses and consumers, though major disagreements remain between Democrat and Republican lawmakers. FT