U.S. New York state manufacturing activity shrinks for ninth straight month, new orders indicator contraction intensifies to curb。Indicators of employment and hours worked were also affected and fell。The New York Fed's overall business conditions index rose 1 in August..9 to -4.7, the index below zero indicates a contraction, with the median estimate of -6。A measure of new orders fell 7.3 to -7.9, while a measure of employment showed a contraction zone for the 10th month in a row。Working hours indicator shrinks at fastest pace since March 2023。
U.S. New York state manufacturing activity shrinks for ninth straight month, new orders indicator contraction intensifies to curb。Indicators of employment and hours worked were also affected and fell。The New York Fed's overall business conditions index rose 1 in August..9 to -4.7, the index below zero indicates a contraction, with the median estimate of -6。A measure of new orders fell 7.3 to -7.9, while a measure of employment showed a contraction zone for the 10th month in a row。Working hours indicator shrinks at fastest pace since March 2023。
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