New York Manufacturing Contracts for an Eighth Straight Month
- Empire State factory index eased this month to minus 6.6
- Prices received by state manufacturers dropped to one-year low
A worker looks at the opacity of a piece of glass at a glassworks in New York.
Photographer: Stephanie Keith/BloombergThis article is for subscribers only.
New York state factory activity contracted for an eighth straight month in July while a measure of prices received by producers declined to a one-year low.
The Federal Reserve Bank of New York’s July general business conditions index eased less than a point to minus 6.6. A reading below zero indicates contraction, and the median forecast in a Bloomberg survey of economists called for minus 7.6.