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Financial News: New York Manufacturing Index Rebounds But Remains Negative

New York Manufacturing Index Rebounds But Remains Negative In September

09/15/2022 - 08:47:00 (RTTNews)

(RTTNews) - The Federal Reserve Bank of New York released a report on Thursday showing a notable rebound in regional manufacturing activity in the month of September.

The New York Fed said its general business conditions index surged to a negative 1.5 in September from a negative 31.3 in August, although a negative reading still indicates a contraction in regional manufacturing activity.

Economists had expected the index to climb to a negative 13.0.

Looking ahead, the New York Fed said firms were not very optimistic that business conditions would improve over the next six months.

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