MW: Empire State factory index rebounds a bit in Aug.
By Greg Robb
WASHINGTON (MarketWatch) -- Conditions for manufacturing in the New York region improved a bit in August from July but still remained well below levels of earlier in the summer, the New York Federal Reserve Bank said Monday. The bank's Empire State Manufacturing index rose to 7.1 in August from 5.1 in July. While positive, it is well below the high of 31.9 in April and 19.6 in June and suggests growth at only a modest pace. The details of the report were fairly weak. The index for new orders and shipments dipped below zero for the first time since June 2009. The unfilled orders index was negative for the fifth straight month. On the positive side, the index of employees rose to its highest level since May. The average workweek also increased.
