New York Manufacturing Index Inches Higher But Remains Negative In August

2024-08-14 4173
(fxcue news) - New York manufacturing activity edged slightly lower in the month of August, the Federal Reserve Bank of New York revealed in a report on Thursday. The New York Fed said its general business conditions index rose to a negative 4.7 in August from a negative 6.6 in July, but a negative reading still indicates contraction. Economists had expected the index to inch up to a negative 6.0. Looking ahead, the New York Fed said firms remained fairly optimistic that conditions would improve in the months ahead.
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