Manufacturing activity in New York state declined slightly in May, the Federal Reserve Bank of New York said Thursday.

The bank's general business conditions index -- from data complied from 175 businesses -- fell below the break-even point of zero to a minus 3.2, the bank said.

The drop of 4 points is considered a marginal decline, indicating flat or stagnant business conditions in the state.

New orders fell fractionally, down to a minus 0.5 reading, while the employment index hovers near zero, the report said.

Copyright 2008 by United Press International


Publication date: 15 May 2008   

Source: UPI-1-20080515-12024100-bc-us-newyork-manufacturing.xml

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