The Empire State Manufacturing Survey is a monthly economic report put together by the Federal Reserve Bank of New York detailing business conditions in the region. For the month of February, the report points towards a substantial slowdown in NY manufacturing activity.
The general business conditions index fell 21 points, to a negative 11.7 reading. Anything below zero indicates contraction in the business sector. The new orders, shipments, and employment indexes all fell into negative territory as well. The prices paid index, up for a second consecutive month, is at a one-year high.
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