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New York Manufacturing Index Unexpectedly Drops In March

Growth in New York manufacturing activity unexpectedly slowed in the month of March, according to a report released by the Federal Reserve Bank of New York on Friday.

The New York Fed said its headline general business conditions index fell to 3.7 in March after climbing to 8.8 in February.

While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index to rise to 10.0.

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