New York Area Manufacturing Weakens
Washington, DC, Sept. 17, 2012 -- Manufacturing in the New York area weakened again in September, according to the Empire State index released by the New York Fed.
The index decreased to negative 10.4 in September from negative 5.9 in August. It is the lowest reading since November 2010.
Economists had expected the index to improve to 0.0.
However, one bright spot in the report was an increase in a measure of activity six months ahead. The forward-looking index rose to 27.2 in September from 15.2 in August.