New York Manufacturing Index Plunges Much More Than Expected In September

(RTTNews) - A report released by the Federal Reserve Bank of New York on Monday showed a substantial downturn by New York manufacturing activity in the month of September.

The New York Fed said its general business conditions index plunged to a negative 8.7 in September from a positive 11.9 in August, with a negative reading indicating contraction. Economists had expected the index to fall to a positive 5.0.

The index tumbled into negative territory for the first time since June after hitting its highest level since November 2024 in the previous month.

Looking ahead, the New York Fed said the future general business conditions index slipped to 14.8 in September from 16.0 in August, suggesting firms expect conditions to improve somewhat in the months ahead but optimism remains subdued.