The general business conditions index fell four points to -7.7, its third consecutive negative reading.
The Federal Reserve Bank of New York reported that manufacturing barely expanded in the region this month, as the business conditions index declined by more than expected.
The Empire State's business-conditions index increased for the fourth consecutive month to 20.21 from 19.53 in February, the highest in well over a year.
The Federal Reserve Bank of New York reported that manufacturing barely expanded in the region this month, as the business-conditions index declined more than expected.
The Federal Reserve Bank of New York reported that manufacturing barely expanded in the New York region this month, as the business-conditions index declined more than expected.
The forward-looking indicator for general business conditions experienced a sharp fall as well, dropping to 22.45 on the index from 52.69 from May, driven by a larger number of manufacturers that now expect business conditions to worsen.
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The Philadelphia Federal Reserve's February index of business activity, an indicator of business conditions for manufacturers in the region, posted a surprise decline to -12.5, while a positive reading had been expected.
The index is calculated by subtracting the percentage of firms saying business conditions are bad from those saying they are good.
The index is based on a survey of 5000 households on their confidence in current and future business conditions, current and future employment and future household income.
Business conditions for mid-Atlantic manufacturers remain barely positive this month, as the Federal Reserve Bank of Philadelphia's index of general business activity slowed in April from March.
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