USA-Unexpected contraction of the Empire State index

PARIS, Aug 15 (Reuters) – Manufacturing activity in the New York area deteriorated sharply in August to fall into contraction zone, with a drop in incoming orders, the monthly antenna survey showed on Monday. Regional Federal Reserve.

The “Empire State” index fell -31.30 after +11.10 in July while economists polled by Reuters were anticipating a drop of only +5.0.

The new orders component came out at -29.6 after 6.2 last month and the employment component fell back to +7.4 after +18.0.

That of paid prices also fell, +55.5 against +64.3 in July.

The sub-index measuring companies’ assessment of their six-month business outlook rose to +2.1 after -6.2 in July. (Written by Laetitia Volga, said by Jean-Michel Blot)

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