New York Empire State factory gauge contracts for ninth straight month in August; Philadelphia Fed Index fell to -7 in August from 13.9 in July.

NY Empire State Manufacturing Index in the United States increased to -4.70 points in August from -6.60 points in July of 2024.t.co/OuXXb5tAs8 pic.twitter.com/Xypi5ue7dV

— TRADING ECONOMICS (@tEconomics) August 15, 2024

The numbers Two regional gauges of manufacturing sentiment weakened in August, according to data released Thursday.

The New York Fed’s Empire State business-conditions index, a gauge of manufacturing activity in the state, stayed in contraction territory for the ninth straight month in August.

The general business-conditions index picked up 1.9 points — to negative 4.7 from negative 6.6 in July.

Economists had expected a negative 6 reading, according to a survey by the Wall Street Journal.

www.marketwatch.com/story/new-york-empire-state-factory-gauge-contracts-for-ninth-straight-month-in-august-5a5e6131

Philadelphia Fed Manufacturing Index in the United States decreased to -7 points in August from 13.90 points in July of 2024.t.co/oPLlvh3iXC pic.twitter.com/VMfOwmKpUV

— TRADING ECONOMICS (@tEconomics) August 15, 2024