Economics
New York Manufacturing Activity Contracts for a Third Month
- Business conditions index fell to -9.1 in October, NY Fed says
- Gauge of future activity falls to second-weakest since 2009
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A measure of New York state manufacturing contracted for a third month in October, and a larger share of factories were more downbeat about business conditions in early 2023.
The Federal Reserve Bank of New York’s general business conditions index fell nearly 8 points to minus 9.1 in October, data showed Monday. A reading below zero indicates contraction. The median estimate in a Bloomberg survey of economists called for a negative 4.3.