The pace of manufacturing growth in the Empire State slowed modestly in October, the Federal Reserve Bank of New York said Tuesday.
The general business index slowed, but held onto positive territory, losing 5 points to a reading of 1.5.
The October reading came "on the heels of four consecutive months during which the general business conditions index indicated that activity grew modestly," the Fed said.
Component indexes were mixed. The new orders index rose from 5 points to 7.8, while the shipments index dropped 3 points to 13.1.
Unfulfilled orders were little changed at minus 6, while the inventory index broke even at zero.
Among the labor indexes, the number of employees and the number of hours worked measures were both slightly positive at 3.6
Respondents also indicated strong levels of optimism about business conditions for the next half a year.
The six-month outlook index held close to September's 18-month high with an October reading of 40.8, the Fed said.
Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Original headline: New York manufacturing hangs onto an edge in October
Most Popular Stories
- NSA Defends Global Cellphone Tracking Legality
- Ad Counts Rise in 2013 for Hispanic Magazines
- Top Websites for U.S. Hispanics
- Networks Vie for U.S. Hispanic TV Viewers
- Saab Gets Back into the Game; U.S. Auto Sales Soar
- Apple Activates Customer-Tracking iBeacon
- Dell Offers Undisclosed Number of Employee Buyouts
- 2013 Tech Gift Guide: iPad Mini Still Hot; Chromecast a Great Low-Cost Option
- A Biography of Jonathan Ive, Apple's Creative Chief
- Authorities Close to Deal with JPMorgan Chase over Madoff Response