Every month, the Federal Reserve in New York surveys manufacturers on business conditions.
The May survey was just released and respondents describe general business conditions negatively:
- New orders and shipments were reported as slower
- Inventories were smaller and delivery times shorter
- A small drop in prices and a drop in hours put in by workers were also reported
- The six-month outlook was described as a little less optimistic than April
- The expectation of spending on capital improvements is at its lowest level in more than two years