New York State manufacturing activity deteriorated more than expected in March, contracting for the fourth straight month as orders and shipments declined.
The manufacturing activity New York State deteriorated in March more than expected, contracting for the fourth straight month as orders and shipments declined.
The general index of business conditions of the bank of the New York Federal Reserve it fell nearly 19 points to minus 24.6 this month, data released Wednesday showed.
Readings below zero indicate contraction and the figure was lower than all estimates in a Bloomberg survey of economists.
A New York judge ordered the seizure of a BCRA account in New York
The survey showed decreases in measures of prices paid and received by manufacturers in the state, Indicating that, while inflationary pressures are persistent, they are easing somewhat.
The Fed’s regional bank employment indexes and the average work week showed a contraction and were at their lowest levels since the beginning of the pandemic.
