By Richard Leong
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.
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.
“Read the Full Article at www.reuters.com >>>>”
ATTENTION READERS
We See The World From All Sides and Want YOU To Be Fully InformedIn fact, intentional disinformation is a disgraceful scourge in media today. So to assuage any possible errant incorrect information posted herein, we strongly encourage you to seek corroboration from other non-VT sources before forming an educated opinion.
About VT - Policies & Disclosures - Comment Policy
