New York – State Factory Activity Tumbles To Lowest Since 2009: NY Fed

    1

    Workers box jars of pasta sauce at a plant run by Chelten House Products in Bridgeport, New Jersey July 27, 2015.  REUTERS/Jonathan SpicerNew York – Manufacturing activity in New York state plunged to its weakest level in August since 2009 due to steep drops in new orders and shipments, although optimism on future business improved, a New York Federal Reserve survey showed on Monday.

    Join our WhatsApp group

    Subscribe to our Daily Roundup Email


    The New York Fed’s Empire State general business conditions index tumbled from 3.86 in July to -14.92 in August, its lowest since April 2009.

    Economists polled by Reuters had expected the index to rise to 5.00 this month. A reading above zero indicates expansion.

    The survey’s index on future business conditions, however, rose to 33.64 from 27.04 in July.

    The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.

    The new orders index was in negative territory for a third month at -15.70 from -3.50 in July, while shipment activity declined to -13.79 from 7.88 in July.

    The survey’s gauge on the average employee workweek dropped to -1.82 from 4.26 and the index for the number of employees fell to 1.82 from 3.19.

    The prices paid index fell to 7.27 from 7.45 July, while prices received fell to 0.91 from 5.32 the previous month.


    Listen to the VINnews podcast on:

    iTunes | Spotify | Google Podcasts | Stitcher | Podbean | Amazon

    Follow VINnews for Breaking News Updates


    Connect with VINnews

    Join our WhatsApp group


    1 Comment
    Most Voted
    Newest Oldest
    Inline Feedbacks
    View all comments
    albroker
    albroker
    8 years ago

    what do you expect with tax spend liberals in charge everywhere.