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The New York Federal Reserve released its survey on Tuesday. The NY Fed Empire State manufacturing index rose slightly to -14.67 in September from -14.92 in August, missing expectations for an increase to -0.75. August's reading was the lowest level since April 2009.
The increase was driven by a rise in the new orders and shipments index. The new orders index increased to -12.90 in September from -15.70 in August, while the shipments index climbed to -7.9 from 13.79.
The general business conditions expectations index for the next six months decreased to 23.2 in August from 33.64 in August.
The price-paid index decreased to 4.1 in September from 7.27 in August.
The index for the number of employees fell to -6. 2 in September from 1.82 last month.
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