By Greg Robb
WASHINGTON (MarketWatch) -- Manufacturing activity contracted in the New York region in August for the third straight month, according to the Empire state survey released Monday by the New York Federal Reserve Bank. The Empire state index worsened to a negative 7.7 in August from negative 3.8 in July. Readings below zero indicate deterioration, with higher numbers of firms reporting that conditions had worsened. The new orders index fell to negative 7.8, while the shipments index improved to 3.0.. A reading of expected conditions six-months ahead plunged to 8.7 in August from 32.2 in July. This is the lowest level since February 2009.
