Man­u­fac­tur­ing in state slides again in Oc­to­ber

Daily Freeman (Kingston, NY) - - OBITUARIES - By Paul Wise­man

WASH­ING­TON >> Man­u­fac­tur­ing in New York state con­tracted for the third straight month in Oc­to­ber.

The Fed­eral Re­serve Bank of New York said its Em­pire State in­dex slid to a read­ing of mi­nus 6.8 this month, low­est since May and down from a mi­nus 2 read­ing in Septem­ber. Any­thing be­low zero sig­nals con­trac­tion. Econ­o­mists had ex­pected the sur­vey to show growth this month.

New or­ders, ship­ments and em­ploy­ment all fell this month, but at a slower pace than they did in Septem­ber.

Prices paid and re­ceived by man­u­fac­tur­ers grew mod­estly.

Man­u­fac­tur­ers have been strug­gling with a strong dol­lar, which makes their goods pricier abroad, and weak in­vest­ment in ma­chin­ery by busi­nesses cau­tious about global eco­nomic out­look. But the New York Fed found that man­u­fac­tur­ers’ out­look for the next six months is sun­nier.

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