The New York Fed index for industry in the New York Region fell sharply in August, after a record score in July. This was revealed on Thursday by the publication of the index, better known as the Empire State index.
The index fell by 25 points to a score of 18.3.
A figure above zero means that a majority of the managers consulted in industrial companies have a positive assessment of market conditions. A negative figure indicates that the assessments are generally pessimistic.
Economists often use the previously published regional economic surveys, such as The New York Fed index, as an indicator for the development of national figures that are published with a greater slowdown.