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Afternoon Note

Business Spirits Stirring

By Charles Payne, CEO & Principal Analyst
2/15/2017 2:26 PM
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This morning we got signs of animal spirits stirring among consumers, and now, there is mounting evidence animal spirits are coming to life in the business world as well.   

Today’s Empire States Manufacturing Index report came in at its highest level since September 2014.  At an 18.7 reading, general business conditions have climbed greatly from the low reading of -5.5 back in October 2016.

Empire Manufacturing Components

All aspects of the report were encouraging suggesting a major uptick in demand.  Prices received are keeping pace with prices paid, which is critical.  The lone sore spot is employment, which only edged up fractionally, but maybe the big gain in workweek presages more work and higher wages.

Empire Manufacturing Components



General Business



New Orders






Prices Paid



Prices Received










Small Business Barometer

Reported yesterday by the NFIB, small business optimism is exploding, and while the most recent report saw the pace cool, its evident these company are more excited than before the Great Recession began.

Key components of the report underscore the urgency and need for small businesses to now put their money where their collective mouths are. 

Outlook for expansion hasn’t been this high in years.

Sales expectation have been coming on, but expectations for the next three months has gone parabolic.


With expansion and sales expanding, employment would naturally improve as well.


People under the influence of smoking marijuana are not in their right minds. THERE IS A REASON WHY THEY CALL IT DOPE!

Anyway, any adult suggesting improvements to California's water and drainage infrastructure has been ridiculed and run out of town for many years.

The politicians are worried about the little minnow of which only a dozen or so remain.

Articles in California newspapers suggest that more than ten years ago, engineers suggested some minor repairs to the dam's spillway(s).

However, providing services to illegal aliens had a higher priority. Not to mention that high speed rail project. [Of note, about 100 years ago, California already HAD high speed rail. Maybe 80 years ago. Very popular. But after someone invented the jet airliner, the people voted with their feet and decided to spend one hour instead of half a day traveling from one city to another.]

Supposedly some California residents proposed a bond issue to build an additional reservoir and make some fixes to existing water infrastructure, but I have no idea how that worked out.

Al M. on 2/16/2017 8:42:07 AM
It's not my fault my parents raised me in CA. CA wastes too high a %age of its cash on social issues. #MAGA & cut Federal funds to CA educational and welfare programs, and cut all Federal funds to sanctuary cities across the nation.

Joseph F Tucciarone on 2/16/2017 9:53:44 AM

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