The Empire State Manufacturing Index in New York fell in June

The Federal Reserve said today that the Empire State Manufacturing Index in New York fell for the second consecutive month by seven points to 17.4 points during the month of June, and analysts had expected the index to rise to 23.0 points in June.

The six-month outlook index rose by 11 points to 47.7 points in June, and the new orders and shipments indicators rose to similar levels, while inventories declined. Data today showed that production at US factories rose 0.9% in May as auto groups jumped by nearly one million units, although they are still below their average in the second half of 2020.