(RTTNews) – After reporting an unexpected slowdown in the pace of growth in New York manufacturing activity in the previous month, the Federal Reserve Ban
Source: markets.businessinsider.com
The Federal Reserve Bank of New York reported growth in New York manufacturing activity in April, but remained fairly subdued. The Fed’s headline general business conditions index rose to 10.1 (vs. economists’ expectation of 6.0) in April, compared to 3.7 in March, driven by growth in regional manufacturing activity. The new orders index climbed to 7.5 in April as compared to 3.0 in March. The shipments index also inched up to 8.6 from 7.7. The index for future business conditions fell to its lowest level in over three years to 12.4 in April vs. 29.6 in March.
