RTTNews - Conditions for New York manufacturers were roughly flat in July, according to a report released by the Federal Reserve Bank of New York on Wednesday, with the index of activity in the sector rising to a level close to zero.

The New York Fed said its general business conditions index rose to a negative 0.6 in July from a negative 9.4 in June, with a negative reading indicating a contraction in activity. Economists had been expecting a more modest increase to a reading of negative 5.0.

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