New York Manufacturing Index Remains Negative In August
(RTTNews) - New York manufacturing activity edged slightly lower in the month of August, the Federal Reserve Bank of New York revealed in a report on Thursday.
The New York Fed said its general business conditions index rose to a negative 4.7 in August from a negative 6.6 in July, but a negative reading still indicates contraction. Economists had expected the index to inch up to a negative 6.0.
The report said the new orders index tumbled to a negative 7.9 in August from a negative 0.6 in July, pointing to a decline in orders.
The shipments index also fell to 0.3 in August from 3.9 in July, suggesting shipments were flat during the month.
Meanwhile, the number of employees index crept up to a negative 6.7 in August from a negative 7.9 in July, although the negative reading points to another month of employment reductions.
The report also said the prices paid index dipped to 23.4 in August from 26.5 in July, while the prices received index rose to 8.5 in August from 6.1 in July.
Looking ahead, the New York Fed said firms remained fairly optimistic that conditions would improve in the months ahead. The index for future business conditions slipped to 22.9 in August from 25.8 in July.
U.S. New Home Sales Show Significant Rebound In November
U.S. Consumer Confidence Unexpectedly Deteriorates In December
U.S. Durable Goods Orders Pull Back More Than Expected In November
U.S. Consumer Sentiment Improves In Line With Preliminary Estimate In December
U.S. Consumer Prices Inch Higher In November, Annual Growth Accelerates Slightly Less Than Expected
U.S. Consumer Prices Inch Up Slightly Less Than Expected In November
U.S. Leading Economic Index Rises For First Time Since February 2022
