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Manufacturing in New York Area Expands Less Than Forecast

Manufacturing in the New York region expanded less than forecast in September even as orders and shipments picked up, while factories’ outlooks improved.

The Federal Reserve Bank of New York’s general economic index eased to 6.3 from 8.2 last month. Readings greater than zero signal expansion in New York, northern New Jersey and southern Connecticut. The median projection in a Bloomberg survey of economists called for a reading of 9.1. A measure of the six-month outlook climbed to the highest since April 2012.