NY Fed manufacturing index falls unexpectedly in October

Manufacturing sector conditions in the jurisdiction of the Federal Reserve bank of New York slipped in October.

The New York Fed's factory gauge deteriorated from a reading of -2.0 in September to for -6.8 October.

Economists had been expecting a reading of 1.0.

A gauge of new orders improved from -7.5 to -5.6 while another that tracks prices paid by firms rose from 17.0 to 22.6.

In parallel, a sub-index linked to employment levels jumped from -14.3 to -4.7, alongside an increase in the sub-index tracking the length of the average employee workweek edging higher from -11.6 to -10.4.