WASHINGTON (MarketWatch)
The Empire State manufacturing index rebounded a bit
to 7.4 in July, the New York Federal Reserve Bank said Monday
The increase was
larger than expected
Economists polled by MarketWatch expected the index to
rebound to 5.0 in July
The index had fallen sharply in June to 2.3 from 17.1 in
May
Many economists said the June decline probably overstated the weakness in
the factory sector in New York
However, a key sub-index for new orders fell
below zero in July for the first time since last November
The prices paid index
also decline to its lowest level since mid-2009
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