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“Less Optimistic” Report From NY Fed

Local News

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 pricesĀ 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

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