Man­u­fac­tur­ing picks up slightly

Daily Freeman (Kingston, NY) - - STATE NEWS - By Josh Boak

Man­u­fac­tur­ing in New York state ex­panded in Novem­ber, end­ing three straight months of con­trac­tion.

The Fed­eral Re­serve Bank of New York says its Em­pire State in­dex rose to a read­ing of 1.5 this month, up from mi­nus 6.8 in Oc­to­ber. Any­thing above zero sig­nals ex­pan­sion.

Weak­nesses still per­sist for New York fac­to­ries de­spite the slight up­swing. New or­ders and ship­ments turned pos­i­tive this month, but man­u­fac­tur­ers still ap­pear to have shed work­ers and cut back on hours. Prices paid and re­ceived by man­u­fac­tur­ers grew mod­estly.

Man­u­fac­tur­ers have been ham­pered by a strong dol­lar, which makes their goods more ex­pen­sive abroad. Slow eco­nomic growth world­wide has also hurt de­mand. Man­u­fac­tur­ers’ out­look for the next six months be­came less op­ti­mistic in Novem­ber com­pared

to Oc­to­ber.

Separate re­ports sug­gest that man­u­fac­tur­ing is still over­com­ing a pro­longed bout of slug­gish­ness.

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