Support the Wall Street Examiner! Choose your level of support to receive a free proprietary report as my thanks. Click the button below to see your options. Become a Patron!

Manufacturing in New York Area Expands at Slower Pace – Bloomberg

Manufacturing in the New York region expanded in June at the slowest pace in seven months as orders and sales cooled.

The Federal Reserve Bank of New York’s general economic index dropped to 2.3 this month, less than the lowest forecast of economists surveyed by Bloomberg News and down from 17.1 in May. Readings greater than zero signal expansion in the so- called Empire State Index, which covers New York, northern New Jersey and southern Connecticut. The last negative reading was in October.

A pullback by American consumers over the past two months combined with a global slowdown means U.S. factories, one of the bright spots of the recovery, may continue to receive fewer orders and reduce production. Fed policy makers meet next week to determine if the world’s largest economy needs further stimulus to boost growth and reduce unemployment.

via Manufacturing in New York Area Expands at Slower Pace – Bloomberg.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.