NY factory output keeps slumping

New York state manufacturers reported business worsened in the past month, according to a report released Monday by the New York Federal Reserve Bank of Buffalo branch.

The Empire State Manufacturing Index fell to minus-9.4 in June compared to a minus-4.6 in May. A reading below zero indicates business is declining.

Among the individual indices, new orders remained negative – about even with last month’s level, while shipments fell 6 points to minus-4.8. The inventories index declined and remained well below zero. Price indexes were negative but modestly higher than in May, and employment indexes stayed below zero.

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- Posted: 2009-06-15 10:16:25

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