US: August NY Manufacturing
Tuesday, August 17, 2010
, Posted by Usman Ali Minhas at 3:27 AM
International Trading
The Empire State manufacturing index increased less than expected to 7.10 in August from 5.08 in July, indicating New York manufacturing activity expanded for a 13th straight month and at a slightly faster pace, according to the latest Empire State manufacturing survey released by the Federal Reserve Bank of New York. The employment index rose to 14.29 from July’s 7.94, showing employment expanded for an eighth consecutive month and at the fastest pace in three months. In contrast, the new orders index dropped to -2.71 in August from 10.13 in July, suggesting new orders contracted for the first time since June 2009.
