New York Manufacturing Index Climbs Less Than Expected April
A report released by the Federal Reserve Bank of New York on Monday showed regional manufacturing activity has contracted at a slower rate in the month of April.
The New York Fed said its general business conditions index climbed to a negative 14.3 in April from a negative 20.9 in March, although a negative reading still indicates contraction. Economists had expected the index to jump to a negative 9.0.
Looking ahead, the New York Fed said firms still expect conditions to improve over the next six months, but the index for future business conditions fell to 16.7 in April from 21.6 in March.
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