New York Fed manufacturing index points to contraction in October

The New York Federal Reserve Manufacturing Index report for October has been released. According to the report prepared as a result of a survey carried out among companies operating in the manufacturing sector in New York, the manufacturing index decreased 6.5 points to -4.6 in October.

Market expectations were that the data would take a value of -7 in this period. The index, which indicates contraction in the manufacturing sector, was recorded at 1.9 in September.

The new orders index decreased 9.3 points to -4.2 in October, and the shipments index decreased 11 points to 1.4. Optimism about the outlook for the next six months decreased by 3.2 points to 23.1 in that period.

If the manufacturing index, which provides information on the prospects of the productive sector, is above zero, it indicates growth, and if it is below zero, it indicates contraction. (AA)