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New York Manufacturing index slides

08-16-2012 08:19 BJT

NEW YORK, Aug. 15 (Xinhua) -- The New York State Manufacturing Survey showed that the region' s manufacturing activity unexpectedly contracted in August.

The New York Federal Reserve posted on Wednesday that the Empire State index fell to minus 5.85 in August from 7.39 in July.

According to the New York Federal Reserve, the negative reading for August indicates monthly contraction in general business conditions.

Meanwhile, new orders in August hit minus 5.50 and it was a second straight month of moderate contraction.

The unfilled orders hit minus 10.59 and it was also a second month of significant contraction.



Editor:James |Source: Xinhua

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