U.S. Empire State manufacturing fell to 1.52 in October, down from 6.29 in September.
Economists were expecting the index to come in at 7.
“The new orders index rose five points to 7.8 and the shipments index fell three points to 13.1, suggesting that both orders and shipments increased modestly over the month,” according to the report.
“The new orders index moved in the opposite direction, rising 5 points to 7.8, indicating that orders increased modestly. The shipments index fell 3 points, but at 13.1 it pointed to a modest increase in shipments.”
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