MarketWatch (10/15/12) Greg Robb
The Empire State manufacturing index increased slightly but remained in negative territory for the third straight month, the New York Federal Reserve Bank reported today. The index rose to negative 6.2 in October from negative 10.4 in September, which was its weakest reading in almost two years. Economists polled by MarketWatch expected the index to improve to negative 4.0. Employment conditions weakened, with the index for number of employees falling to negative 1.1 from 4.3 in the previous month. An index of expectations of activity six months ahead slipped to 19.4 in October from 27.2 in September. While positive, it is well below levels seen earlier in the year.