NY Fed: Manufacturing Pace “Slowed Substantially” in July

The Empire State Manufacturing Survey indicates that while conditions for New York manufacturers continued to improve in July, the pace of growth in business activity slowed substantially over the month. The general business conditions index remained positive but fell from 19.6 to 5.1 in July.The index has fallen a cumulative 27 points from the 2010 peak of 31.9 reached in April – NY Fed