New York Manufacturing Improves at Slower Pace
New York, NY, May 17, 2010--Manufacturing activity in the New York region continued to improve but at a slower pace in May, the New York Federal Reserve Bank said Monday.
The bank's Empire State Manufacturing index decelerated to 19.1 in May from 31.9 in April. The drop suggests the pace of growth slowed in May.
New orders and shipments moved lower but remained in positive territory. The index for the number of employees rose to its highest level since 2004.