Economy
October 17, 2016
Empire State Index Falls Like the Leaves in October
Written by Sandy Williams
Manufacturing in New York State in October was at its lowest point since May of this year. The Federal Reserve Bank of New York reported the Empire State Manufacturing Index slipped five points to -6.8 this month. The Index has been in contraction for three consecutive months, dashing economist expectations for growth in the New York region in October.
New orders increased slightly to -5.6 but orders for shipments, unfilled orders and delivery time. The inventory index was unchanged at -12.3.
