FOREX TradingCharts.com

Financial News: Growth In New York Manufacturing Slows More Than

Growth In New York Manufacturing Slows More Than Expected In October

10/15/2020 - 09:37:00 (RTTNews)

(RTTNews) - Growth in New York manufacturing activity slowed by more than expected in the month of October, the Federal Reserve Bank of New York revealed in a report on Thursday.

The New York Fed said its general business conditions index slid to 10.5 in October from 17.0 in September.

While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index to show a much more modest drop to 15.0.

The bigger than expected decrease by the headline index came even though the new orders index climbed to 12.3 in October from 7.1 in September and the shipments index rose to 17.8 from 14.1.

The number of employees index also increased to 7.2 in October from 2.6 in September, indicating an acceleration in the pace of job growth.

The report also said the prices paid index crept up to 27.8 in October from 25.2 in September, while the prices edged down to 5.3 from 6.5.

"The October Empire State Manufacturing Survey signals continued, albeit softer, expansion supported by rising shipments and a gain in new orders, although employers are still hiring cautiously," said Oren Klachkin, Lead U.S. Economist at Oxford Economics.

Looking ahead, the New York Fed said firms remained optimistic conditions would improve over the next six months, although optimism was somewhat lower than last month.

The index for future business conditions fell to 32.8 in October from 40.3 in September.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Consumer Sentiment Improves Slightly More Than Initially Estimated In October (08 hr(s), 44 min(s), 23 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. improved slightly more than initially estimated in the ...Full Story»

Chicago Business Barometer Indicates Slightly Slower Growth In October (08 hr(s), 46 min(s), 23 sec(s) ago)
(RTTNews) - Chicago-area business activity saw continued growth in the month of October, according ...Full Story»

Eurozone Q3 GDP Expands Most On Record (09 hr(s), 25 min(s), 23 sec(s) ago)
(RTTNews) - The euro area economy expanded at the fastest pace on record in the third quarter afte ...Full Story»

U.S. Personal Income Rebounds In September, Spending Jumps More Than Expected (09 hr(s), 32 min(s), 23 sec(s) ago)
(RTTNews) - After reporting a sharp decrease in U.S. personal income in the previous month, the Co ...Full Story»

Italy Consumer Prices Decline Slows In October (10 hr(s), 23 min(s), 23 sec(s) ago)
(RTTNews) - Italy's consumer prices declined at a softer pace in October, data from the statis ...Full Story»

U.S. Personal Income Climbs More Than Expected In September (10 hr(s), 25 min(s), 23 sec(s) ago)
(RTTNews) - After reporting a sharp decrease in U.S. personal income in the previous month, the Co ...Full Story»

Portugal Consumer Prices Fall In October (10 hr(s), 27 min(s), 23 sec(s) ago)
(RTTNews) - Portugal's consumer prices declined in October, preliminary data from Statistics P ...Full Story»

Greece Producer Prices, Retail Sales Decline (10 hr(s), 25 min(s), 23 sec(s) ago)
(RTTNews) - Greece producer prices declined at a faster pace in September, data from the Hellenic ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Improves Slightly More Than Initially Estimated In October

10/30/2020 - 10:19 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. improved slightly more than initially estimated in the ...Full Story>>

Chicago Business Barometer Indicates Slightly Slower Growth In October

10/30/2020 - 10:17 AM (RTTNews)
(RTTNews) - Chicago-area business activity saw continued growth in the month of October, according ...Full Story>>

Eurozone Q3 GDP Expands Most On Record

10/30/2020 - 09:38 AM (RTTNews)
(RTTNews) - The euro area economy expanded at the fastest pace on record in the third quarter afte ...Full Story>>

U.S. Personal Income Rebounds In September, Spending Jumps More Than Expected

10/30/2020 - 09:31 AM (RTTNews)
(RTTNews) - After reporting a sharp decrease in U.S. personal income in the previous month, the Co ...Full Story>>

Italy Consumer Prices Decline Slows In October

10/30/2020 - 08:40 AM (RTTNews)
(RTTNews) - Italy's consumer prices declined at a softer pace in October, data from the statis ...Full Story>>

Do not sell my personal information

Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.