New York State Manufacturing Activity Weakens Further
Factory activity in New York State contracted at a faster pace this month, as new orders and shipments weakened and inflationary pressures continued to be strong, a monthly survey of firms said.
The Federal Reserve Bank of New York said Monday that its statewide manufacturing index fell to minus 16 this month from minus 9.2 in May. A consensus of economists polled by The Wall Street Journal expected it to rise to minus 6.0.
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