New York's manufacturing slumped

Manufacturing activity in New York slumped unexpectedly.

The general business conditions index for July came in at 0.55.

Economists were expecting the index to slide to 5.00.

The July number “indicates that business activity flattened out for New York manufacturers,” the report noted.

Last month, the index unexpectedly spiked to 6.01, compared to expectations of -4.90.

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