Economics
N.Y. Manufacturers’ Expansion Moderates; Sales Prices at Record
- Empire State business conditions gauge declines from record
- Delivery times lengthen, while index of unfilled orders rises
A worker pulls a crucible of molten glass from a furnace in Corning, New York.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
A gauge of New York state manufacturing moderated in August after expanding at an unprecedented pace a month earlier, while a measure of selling prices advanced to a fresh record.
The Federal Reserve Bank of New York’s general business conditions index decreased to 18.3 from 43 a month earlier, a report showed Monday. Figures above zero indicate expansion. The median projection in a Bloomberg survey of economists called for a reading of 28.5.