Manufacturing In New York Region Contracts In September.
Bloomberg News (9/18, Chandra) reports, "Manufacturing in the New York region contracted more than forecast in September as orders shrank, a sign the world's largest economy will get less support from the industry. The Federal Reserve Bank of New York's general economic index dropped to minus 10.41, the lowest since April 2009, from minus 5.85 in August."
The Greater Binghamton (NY) Business Journal (9/18, Seltzer) reports, "It was the general business conditions index's second consecutive month below zero. That means more surveyed manufacturers reported worsening circumstances than said the business climate was improving." The Journal reports, "In September, 28.8 percent of manufacturers indicated business conditions eroded, while just 18.4 percent said conditions took a step in the right direction. The remaining 52.8 percent of respondents believed conditions stayed the same as last month."
The Buffalo (NY) Business First (9/18, Subscription Publication) reports, "New orders remained negative, down nine points to minus-14.0, its third straight negative reading. Employment also fell noticeably, the monthly report showed. Also, shipments were marginally, while the unfilled orders index slipped to minus-14.9. The delivery time index, however, rose more than nine points to 2.1 - its first positive reading since April."
Also covering the story were the Wall Street Journal (9/18, Madigan) "Real Time Economics" blog, Reuters (9/18), the UK's Financial Times (9/17, Raval, Subscription Publication), and other media sources.
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