New York manufacturing index fell for the fourth consecutive month

According to data released by the Federal Reserve Bank of New York, the September manufacturing activity index in New York fell for the fourth consecutive month in a row, confirming that the manufacturing industry that once led the US economic recovery had a clear slowing trend.

According to the data, the New York Manufacturing Index was negative at 8.8 in September, which was lower than the negative 7.72 in August. This is the fourth consecutive month that this index is below zero, indicating that manufacturing activity in the region is shrinking. The new orders index was negative at 8.0, basically the same as the previous month, the lowest level since November 2010. The inventory index fell to minus 12, indicating that inventory levels are declining.

In contrast, the index measuring the outlook for the next six months was slightly better, rising from 8.70 in the previous month to 13.0, indicating that respondents believe that manufacturing activity in the New York area will improve in the coming months. But in general, this figure is still at historically low levels.

The New York Manufacturing Index covers manufacturing activities in New York, northern New Jersey, and southern Connecticut. Data above zero indicates that manufacturing activity in the region is expanding, and below zero indicates that it is shrinking.