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.
Photo: A button-sewer works on pants being manufactured at Dynotex Inc. garment factory in Greenpoint.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
