Economy
August 17, 2020
Empire State Manufacturing Slows in August
Written by Sandy Williams
Manufacturing activity in the New York region slowed in August, according to the Federal Reserve Bank of New York. The Empire State Manufacturing Index slid 14 points to 3.7 in August, well below economists’ estimates in the range of 14-17. A reading above zero indicates activity is expanding.
“After increasing significantly in July for the first time since the pandemic began, manufacturing activity in New York State grew only slightly in August,” said the Federal Reserve Bank.
