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.
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 shows modest gains
Most Popular Stories
- 'Lucy's' Super Powers Tops 'Hercules' at Box Office
- The Rise and Fall of Richard Alarcon
- 'Sharknado' Sequel Has Bite and Lots of Laughs
- Nissan Profits Rise on Growth in U.S., China
- Shania Twain's Vegas residency ending after 110 shows
- Desktop, Laptop Setups Still King
- Pending Home Sales Slipped in June
- Four DC Comics Properties Brought to TV Get Comic-Con Event
- Plan to Simplify 2015 Health Renewals May Backfire
- U.N. Renews Demand for Gaza Cease-Fire