New York Manufacturing Index Falls in April

Washington, DC, April 16, 2012 -- New York’s Empire State manufacturing index dropped to 6.56 in April from 20.21 in March, much slower than the 18 projected by economists.

A 12-point drop in shipments and a negative reading for unfilled orders pulled the index down.

The new-orders component was essentially unchanged at 6.48, while the index for number of employees rose to its highest level in nearly a year.