New York manufacturing activity has contracted at a significantly accelerated rate 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 general business conditions index plunged to a negative 20.9 in March from a negative 2.4 in February, with a negative reading indicating contraction. Economists had expected the index to decrease to a negative 7.0.
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Forex News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.