The Federal Reserve’s October 2014 Empire State Manufacturing Survey continued to show growth, but at a much more “modest” level than over the summer. The General Business Conditions Index was still positive at 6.2, but was down over 21 points from its four-year high in September. Shipments also grew at a much lower rate, while New Orders declined slightly. NYS manufacturers remain optimistic about the near term, registering 41.7 for the six month outlook index, the third month in a row above 40. See the full report here.