NY Fed: Headline general business conditions index fell ten points to 9.8

Eren Sengezer FXStreet

"Business activity grew modestly in New York State, according to firms responding to the July 2017 Empire State Manufacturing Survey," announced the Federal Reserve Bank of New York.

Key quotes:

The headline general business conditions index fell ten points to 9.8
The new orders index moved down to 13.3, and the shipments index fell to 10.5, suggesting that orders and shipments continued to grow, though at a somewhat slower pace than in June
Delivery times continued to lengthen, and inventory levels were fairly steady
Labor market indicators pointed to a small increase in employment and no change in hours worked. Input prices and selling prices rose at about the same pace as last month
Indexes assessing the six-month outlook suggested that firms remained positive about future conditions, though they were less optimistic than in June

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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