The Empire State manufacturing index decreased slightly in September and remained in negative territory for the fourth straight month, the New York Federal Reserve Bank said Thursday.
The Empire state index weakened to a negative 8.8 in September from negative 7.7 in August.
This is the lowest reading since November 2010.
Readings below zero indicate deterioration, with higher numbers of firms reporting that conditions had worsened.
The new orders index inched lower to negative 8.0, while the shipments index fell 16 points to -12.9.
After dropping sharply during the summer, the index for prices paid increased in September. Employment indexes were below zero.
A reading of expected conditions six-months ahead improved a bit to 13.0 in September from a two-year low of 8.7 in August
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WASHINGTON (MarketWatch) - U.S. consumer prices rose a seasonally adjusted 0.4% in August, the Labor Department reported Thursday. The so-called core price index, which strips out volatile food and energy costs, increased a smaller 0.2%. Yet the core rate is now up 2.0% over the past 12 months, the first time it's hit that level since November 2008. Economists surveyed by MarketWatch had forecast CPI to rise 0.2% overall, with a 0.2% increase in the core rate. Consumer prices have jumped an unadjusted 3.8% over the past year. The increase in the cost of goods and services has resulted in a 1.8% decline in inflation-adjusted weekly wages for U.S. workers over the past 12 months. Average hourly wages adjusted for inflation dropped 0.6% in August, marking the biggest one-month decline since July 2008, the Labor Department said.
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