NY Fed manufacturing contracts much less in April

Manufacturing activity in New York State contracted less severely in April after tumbling to a record low in March, the New York Federal Reserve said in a report on Wednesday.

The New York Fed's "Empire State" general business conditions index was minus 14.65 in April, compared with minus 38.23 in March. Economists polled by Reuters had expected an April reading of minus 35.00.

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- Posted: 2009-04-15 08:01:02

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