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NYS Manufacturing Contraction Eases

After plunging 36 points last month, the Federal Reserve Bank of NY’s Empire State Manufacturing Survey increased 10.4 points in June, but remained in negative territory with a reading of -1.2 indicating little change in manufacturing activity from last month (a reading below 0.0 is consistent with contraction).  New Orders and Shipments returned to positive territory, while Prices Paid and Prices Received remained near all-time highs, reflecting inflationary pressures in the economy.  Positive sentiment diminished slightly with the future conditions index (six months from now) falling 4.0 points to 14.0.  See the full report here.

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