Having equaled its highest level since 2009 in October, November's Empire Fed print tumbled from 30.2 to 19.4, way below the 25.1 expectations (the biggest drop since April).
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However, while the headline slipped, hope for the future surged to its highest in over 5 years...
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Under the covers, prices paid dropped, number of employees dropped, and average workweek contracted - its first contraction since January.
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