Decline in US manufacturing

A gauge of manufacturing activity in New York state fell more than expected as orders and production cooled, a Federal Reserve survey of factories showed.

The regional index, which offers the first clues to the performance of US manufacturing in the current month, fell to 12.6 from a revised 35.8 in July. It hit a record high of 42.1 in February and has stayed above zero, showing expansion, since April 2003.