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15.08.2016 14:43:45
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New York Manufacturing Activity Unexpectedly Contracts In August
(RTTNews) - Manufacturing activity in the New York region unexpectedly contracted in the month of August, according to a report released by the Federal Reserve Bank of New York on Monday.
The New York Fed said its general business conditions index fell to a negative 4.21 in August from a positive 0.55 in July. A negative reading indicates a contraction in New York manufacturing activity.
The decline by the index came as a surprise to economists, who had expected the index to climb to a positive 2.50.
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