While the Federal Reserve Bank of New York released a report on Monday showing a modest improvement in New York manufacturing activity in the month of April, the index of activity in the sector fell by much more than economists had been anticipating.
The New York Fed said its general business conditions index plunged to 6.6 in April from 20.2 in March, although a positive reading indicates an increase in manufacturing activity. Economists had expected the index to edge down to 18.0.
by RTT Staff Writer
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