Posted May 16, 2011
NY manufacturing conditions improve
The Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved in May, but at a slower pace than in April.
The Federal Reserve Bank of New York said the general business conditions index fell ten points to 11.9. The new orders index declined five points to 17.2, and the shipments index slipped three points to 25.8. The inventories index climbed to 10.8, its highest level in a year. The prices paid index rose to 69.9, its highest level since mid-2008, while the prices received index held firm at 28.0. Future indexes continued to convey a high level of optimism about the six-month outlook, although prices are widely expected to rise.
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