Mubasher: US manufacturing business activity sustained its expansion almost as briskly as in July, while prices continued to increase moderately, New York Federal Reserve Bank’s Empire State Manufacturing Survey suggested Monday.

The Empire State manufacturing index, gauging overall general business conditions, fell to 22.6 in July, but still indicating robust growth, falling from an 8 month high of 25 in June.

The paid price index shed 10 points to 42.7 this month, but remained at a fairly high level suggesting ongoing input cost pressures, while the prices were almost steady at 22.2, indicative a moderate increase in selling prices.

Business optimism slipped in July with the index for future conditions falling eight points to 31.1, reversing last month’s gain.