Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



New York Manufacturing Growth Slows Down for August

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

New York manufacturing growth slowed down for August, according to a new report (link opens as PDF) released today by the New York Federal Reserve.

Comprised of surveys from around 100 New York executives, The Empire State Manufacturing Survey attempts to determine whether certain components of manufacturing have experienced growth (positive number), or contraction (negative number ). Investors watch New York manufacturing (and other areas, as well) as a possible signal of larger economic upswings or downturns.

For August, the survey's general business conditions index fell back approximately 1.2 points, from July's 9.46 reading, to a worse-than-expected 8.24. Analysts had been hoping for even greater growth than in July, but their 10.0 prediction proved too optimistic.

Source: New York Federal Reserve 

Digging deeper, the all-important new orders index fell 3.5 points, to 0.3, while shipments dropped 7.5 points, to 1.5. Both unfilled orders and inventories components remain in the red. The labor market made the most improvements for August, with the employment index up 7.5 points, to 10.8. The average employee work-week component pulled itself out of contraction levels, moving from -7.6 in July, to 4.8 in this month's report.

Manufacturers' six-month outlook also remains positive. The overall index increased 5.4 points, to 37.4, while new orders took a slight one-point dip to a still-respectable 30.0.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2597647, ~/Articles/ArticleHandler.aspx, 9/29/2016 8:11:51 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes