Empire State Manufacturing Bounces Back

Washington, DC, July 16, 2012 -- The Empire State manufacturing index bounced back to 7.4 in July, the New York Federal Reserve Bank said.

Economists expected the index to rebound to 5.0 in July.

The index had fallen in June to 2.3 from 17.1 in May.

A key index for new orders fell below zero in July for the first time since last November.