The Federal Reserve Bank of New York says factory activity in New York state fell sharply in September for the second straight month, dragged down by a drop in new orders and shipments.
The New York Fed's Empire State manufacturing index registered minus 14.7 this month after a minus 14.9 in August. Last month's reading was the lowest since April 2009, during the Great Recession.
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September's Empire report is another sign that U.S. manufacturers are contending with the fallout from plunging energy prices and a strong dollar, which makes U.S. exports more expensive overseas.
A gauge of new orders came in at minus 12.9, and shipments registered minus 8.0. In addition, a measure of employment fell to minus 6.2 in September from a positive 1.8 last month.