Washington, DC, April 17, 2006--Manufacturing activity in the New York area slowed in April, the New York Federal Reserve Bank said Monday.
The bank's Empire State Manufacturing index fell to 15.8 in April from a revised 29.0 in March. The decline was larger than expected.
Economists were expecting the index to fall to 24.5 from the initial estimate last month of 31.2. All major subcategories fell in April, with unfilled orders dipping below zero. Prices held relatively steady.
