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NY manufacturing conditions decline for second time in three months

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NY manufacturing conditions decline for second time in three months

General business conditions index falls five points to -2.0.

According to the New York Federal Reserve’s monthly survey of manufacturers, business conditions worsened marginally for New York manufacturers in June.

The general business conditions index dropped five points to -2.0. This index has been hovering near zero for the past three months, suggesting that activity has remained flat since April.

Twenty-six percent of respondents reported that conditions had improved, while 28% reported that conditions had worsened. After a brief foray into positive territory last month, the new orders index fell back below zero: at -2.1, it indicated a small decline in orders.

The shipments index was little changed at 12.0, suggesting that shipments continued to grow steadily. The unfilled orders index advanced seven points but, at -4.8, it pointed to a small decline in unfilled orders. The delivery time index climbed to -1.9, and the inventories index fell to 1.9, suggesting little change in delivery times and inventory levels.

Prices for both inputs and sales remained relatively flat, while employment levels ticked up slightly.

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