New York Manufacturing Remains Weak

Washington, DC, Oct. 15, 2012 -- New York area manufacturers said business continued to deteriorate in October, according to the Federal Reserve Bank of New York.

The Empire state index rose to negative 6.2 in October from negative 10.4 in September.

In October, 31% of firms surveyed said business got worse in October, while 25% said conditions had improved.

The gain in the index was below expectations for a rise to negative 4.0.