Manufacturing activity rose modestly in the Empire State in September for the fourth consecutive month, the Federal Reserve Bank of New York said Monday.
The general business index, remained positive, although it dropped two points from 8.3 to 6.3, indicating growth at a slower pace.
The index for new orders rose two points to 2.4, while the shipments index jumped nearly 15 points to 16.4.
A point is calculated by finding the net number of businesses that report an increase or a decrease in each category.
The Fed said the price paid index came in at 21.5, little changed from August, but the prices received index climbed five points to 8.6.
Component indexes for employment slowed. The index measuring the number of employees shrank three points to 7.5, indicating slower growth. The index measuring the number of hours worked came to an almost neutral 1.1, indicating slight growth.
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Original headline: New York manufacturing shows modest gains
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