New York state manufacturing activity is slowing down

April 15, 2015 12:31 PM

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New York state manufacturing activity is slowing down

Manufacturing activity in New York unexpectedly contracted in the month of April, according to a report released by the Federal Reserve Bank of New York on Wednesday.

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.

Also read: US new-home sales fell more than expected in April

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