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.

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

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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.

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