Empire State Manufacturing Activity Contracts in March

April 15, 2015 12:40 PM

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New York business conditions deteriorated in April, with new orders falling further into the red, according to data released Wednesday by the Federal Reserve Bank of New York. The report, one of the first to cover the second quarter, may contribute to worries about the U.S. expansion's health.

The Empire State's business conditions index declined to -1.19 in April from 6.90 in March. It was the first negative reading since December.

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