Forex News | Manufacturing of New York in September Back shrinks

The official report from the Federal Reserve of New York show the data from the manufacturing sector of the city of New York of September contracted by 14.7 percent from the forecast of economists at the level of minus 0.5 percent. Data this month only slightly lower than last month's contraction of 14.9 percent.

Contraction for two consecutive months on manufacturing the largest US cities indicates a decrease in the number of orders and jobs. This shows still solid parts factory activity and weak market demand for goods in the production of the factory in New York, northern New Jersey and southern Connecticut.

Besides the New York Fed also released the index data outlook for 6 months experienced a decline to the lowest level since January 2013, the orders index seems to have not been able to expand this month after 3 months earlier continued to contract, index jobs at the plant also dropped to its lowest level since 2012 and the prospect producer index for the next 6 months also declined sharply this month.

So deep contraction in New York manufacturing also contributed greatly affect the data Industrial Production in the US state as a whole recorded suffered deterioration as much as 0.4 percent so far when compared with the data in the previous month, which rose by 0.9 percent. Poor industrial production data this month as well as a sixth month indicator of US Industrial Productions worse than the previous month.