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U.S. ECONOMICS: NY Empire State Manufacturing Tumbles as Employment Input Falls While Workweek Rises

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The Empire State manufacturing index dropped 10.9 points to 14.7 in August after jumping 6.3 points to 25.6 in July. The employment component fell to 13.6 from 17.1 previously. But the workweek rose to 8.0 from 2.3. New orders slid to 14.1 from 18.8. Prices paid rose to 27.3 from 25.0, with prices received at 8.0 from 6.8. The 6-month business conditions index surged to 46.8 after falling to 28.5 in July. The 6-month employment index rose to 22.7 from 17.1, with capital expenditures doubling to 18.2 versus 9.1, and prices paid at 42.1 from 37.5.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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