The New York Fed’s Empire State business conditions index fell 5.5 points in July to 1.1, the regional Fed bank said Monday.
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, fell 5.5 points in July to 1.1, the regional Fed bank said Monday.Any reading above zero indicates improving conditions.
Price increases continued to moderate. The price-paid index has now fallen nearly fifty points over the past year. Big picture: The index has been volatile this year, falling below negative 24 three times before recovering.
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