New York Manufacturing Index Shows Growth

New York, NY, Sept. 15, 2010--The New York Federal Reserve's manufacturing index fell 3 points to 4.1 for early September, a larger decline than expected.

The Empire State Manufacturing Survey index dropped 3 points to 4.1 for early September, after rising 2 points for a reading of 7.1 in August. Economists expected a reading of 6.4, and any reading above zero indicates growth.

The new orders and shipments indexes were both up modestly for the month, to 4.33 and -0.27, respectively, at levels signaling stable activity, the report showed.

Optimism about the six-month outlook continued to decline, with the future general business conditions index hitting its lowest level since early 2009.