NY Fed: Manufacturing “Business activity grew only slightly in New York State”

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From the NY Fed: Empire State Manufacturing Survey

Manufacturing firms in New York State reported that business activity expanded only slightly. The general business conditions index fell five points to 3.7, its third consecutive monthly reading below 10, suggesting that growth has remained quite a bit slower so far this year than it was for most of 2018.

The index for number of employees climbed ten points to 13.8, pointing to an increase in employment levels, though the average workweek index turned negative for the first time since 2016. emphasis added

This was below the consensus forecast.

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