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Conditions for New York manufacturers dipped slightly in April, the Federal Reserve Bank of New York’s Empire State Manufacturing Survey shows.
The general business conditions index slipped four points to 1.3. In March it was at 5.6. Twenty-six percent of respondents reported conditions had improved over the month, while 24 percent reported conditions had worsened. A reading above zero indicates expansion.
“Business activity was flat for New York manufacturers,” the report states.
The new orders index fell from 3.1 to below zero, at -2.8. This shows a slight decline in orders over the month, officials said. The unfilled orders index remained negative at -13.3, and the inventories index dropped 10 points from March to -3.1.
The prices paid index was little changed, and at 22.5, pointed to continued moderate input price increases, the report shows.
The prices received index climbed eight points from 2.4 to 10.2, which represents a pickup in the pace of selling price increases.
Employment indexes suggested modest improvement in labor market conditions. The index for number of employees inched up to 8.2, indicating a small increase in employment levels.
Indexes for the six-month outlook pointed to a fair level of optimism about future business activity. The future general business conditions index advanced five points to 38.2.
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