Financial News: New York Manufacturing Index Remains Negative In August

New York Manufacturing Index Remains Negative In August

08/15/2024 - 11:17:00 (RTTNews)

(RTTNews) - New York manufacturing activity edged slightly lower in the month of August, the Federal Reserve Bank of New York revealed in a report on Thursday.

The New York Fed said its general business conditions index rose to a negative 4.7 in August from a negative 6.6 in July, but a negative reading still indicates contraction. Economists had expected the index to inch up to a negative 6.0.

The report said the new orders index tumbled to a negative 7.9 in August from a negative 0.6 in July, pointing to a decline in orders.

The shipments index also fell to 0.3 in August from 3.9 in July, suggesting shipments were flat during the month.

Meanwhile, the number of employees index crept up to a negative 6.7 in August from a negative 7.9 in July, although the negative reading points to another month of employment reductions.

The report also said the prices paid index dipped to 23.4 in August from 26.5 in July, while the prices received index rose to 8.5 in August from 6.1 in July.

Looking ahead, the New York Fed said firms remained fairly optimistic that conditions would improve in the months ahead. The index for future business conditions slipped to 22.9 in August from 25.8 in July.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Brazil Inflation Eases To 4.24% (11 min(s), 06 sec(s) ago)
(RTTNews) - Brazil's consumer price inflation eased for the first time in four months in Augus ...Full Story»

Hungary Inflation Eases To 3.4%, Lowest In 42 Months (01 hr(s), 17 min(s), 06 sec(s) ago)
(RTTNews) - Hungary's consumer price inflation slowed in August to the lowest level in three-a ...Full Story»

Austria Production Index Declines At Slower Pace (01 hr(s), 45 min(s), 06 sec(s) ago)
(RTTNews) - Austria's production index posted a slower decline in July, figures from Statistic ...Full Story»

Czech Inflation Steady At 2.2% (02 hr(s), 32 min(s), 06 sec(s) ago)
(RTTNews) - The Czech Republic's consumer price inflation held steady in August after rising i ...Full Story»

Norway Inflation Eases Unexpectedly, Producer Prices Rise Further (03 hr(s), 29 min(s), 06 sec(s) ago)
(RTTNews) - Norway's consumer price inflation eased somewhat in August, while producer prices ...Full Story»

Spain Industrial Output Falls For First Time In 4 Months (04 hr(s), 02 min(s), 06 sec(s) ago)
(RTTNews) - Spain's industrial production declined for the first time in four months in July d ...Full Story»

German Inflation Slows As Estimated (04 hr(s), 39 min(s), 06 sec(s) ago)
(RTTNews) - Germany's consumer price inflation weakened, as initially estimated, in August due ...Full Story»

Italy Industrial Production Falls 0.9%, Exceeds Forecast (05 hr(s), 04 min(s), 06 sec(s) ago)
(RTTNews) - Italy's industrial production declined more-than-expected in July after rising in ...Full Story»