New York Manufacturing Conditions Show Improvement

New York, NY, Aug. 16, 2010--The New York Federal Reserve said the general business conditions index from its Empire State Manufacturing Survey rose to 7.1 this month.

A number greater than zero indicated expansion.

That's a two-point improvement from the July report, which fell to 5.1 from 19.6. However, the current reading was lower than expectations.

The report showed several individual assessments deteriorated during the month. A reading on new orders, for one, fell into negative territory for the first time this year, dropping to -2.7 in August after hitting 10.1 in July. Shipments, too, swung below the zero mark after registering a -11.5 this month. Last month, the shipments index was holding at 6.3.

However, the employment picture in the factory ranks appeared to brighten a bit. A measure examining the number of employees improved by over six points to read 14.3 this month.