Manufacturing in New York Region Contracts for Third Month

Manufacturing in the New York region contracted for a third straight month in October as shipments and employment declined, indicating the economy will get less support from factories.

The Federal Reserve Bank of New York’s general economic index rose to minus 6.2 from minus 10.4 in September, which was the lowest since April 2009. The median forecast of 46 economists in a Bloomberg survey called for minus 4. Readings of less than zero signal contraction in New York, northern New Jersey and southern Connecticut.