The Rainy Seson in Business? (景気も梅雨入り?)

The rainy season has set in. It brings us humid air, damp ground, and unpleasant molds. Today's Japanese stock prices droped and finished below 10,000 yen. One of the reason is due to drop of an index price in US; Empire State Manufacturing Survey. It is a monthly survey of manufacturers in New York State conducted by the Federal Reserve Bank of New York. You can see the movement of the index here;

Empire State Manufacturing Survey(Federal Reserve Bank of NY)
The Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to deteriorate in June, at a moderately faster pace than in May. The general business conditions index fell 5 points, to -9.4.

The index was -4.5 in last month. The expectation for this month was -4.6 but it was -9.4. This likely means the manufacturing industry in US does not recovered strongly. Is the rainy season comming?


Empire State Manufacturing Survey(Federal Reserve Bank of NY)