New York Manufacturing Activity Slows

Washington, DC, September 17, 2007—Manufacturing activity in New York cooled, according to the New York Federal Reserve. The Fed’s economic index fell to 14.7 from 25.1 in August.

Economists were expecting a decline to 18.

The index measuring the manufacturing outlook for six months from now eased to 48.8 from a two-year high of 50.4 in August, today’s report showed.

The measure of new orders fell to 13.6 from 22.2 in August.

A gauge of shipments fell 5.1 from 28.8, the report showed. The index of inventories rose to 3.2 from minus 2.2.