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Economic Report: Empire State index swings back to negative ground in August

Bloomberg

The Larkin at Exchange building in Buffalo, New York

Manufacturing conditions in the New York region weakened in August, the New York Fed said Monday.

The Empire State manufacturing index for August fell to negative 4.2 from 0.6 in July, the fourth time this year the reading has been in negative territory. Any readings below zero indicating worsening conditions.

Empire State Manufacturing Survey: Business activity weakened slightly; August index -4.2 → https://t.co/bg44TB8sw9pic.twitter.com/bwf5JWScgh

— New York Fed (@NewYorkFed) August 15, 2016

The details of the report were not as weak as the headline. Orders moved into positive territory while shipments improved.

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