NY manufacturing activity continues to decline
A button-sewer works on pants being manufactured at the Dynotex Inc. garment factory in Greenpoint. (July 11, 2012). Credit: Bloomberg News, 2012
Manufacturing conditions in New York State declined in January for the sixth consecutive month, according to the Empire State Manufacturing Survey, a report of state manufacturing activity compiled by the Federal Reserve Bank of New York.
The general business conditions index for January fell to negative 7.8, a slight drop from December's reading of negative 7.3. A reading below zero indicates that business activity is contracting.
Economists polled by Bloomberg had expected a negative 0.2 reading for the index. Many had expected manufacturing conditions to strengthen after superstorm Sandy battered the region in late October.
The manufacturing survey for New York serves as an early indicator on overall U.S. manufacturing conditions for the month.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
Sarra Sounds Off, Season 3, Ep 3: Top football teams in action, fantasy update and plays of the week Gregg Sarra sounds off on the Northport and Half Hollow Hills East matchup, plus Tess Ferguson has an update on the high school fantasy football standings and Jared Vailuzzi has the plays of the week.
