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New York Fed: Manufacturing activity decreases

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New York Fed: Manufacturing activity decreases

Empire State report disappoints.

The April 2014 Empire State Manufacturing Survey, released today by the Federal Reserve Bank of New York, indicates that business conditions continue to improve for New York manufacturers, but that activity has slowed considerably.

The general business conditions index fell to 1.29, compared with March’s 5.61. This is the lowest reading since November of last year, although it still suggests growth, albeit sluggish.

Analysts had expected the index to rise to 8.0

The new orders index fell 5.9 to -2.77, while inventories fell 10.0 to -3.06.

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