The Empire State Manufacturing Survey’s General Business Conditions Index crossed into negative territory in May. NYS Manufacturers reported that business conditions contracted slightly after modest growth in February, March and April. New Orders, Unfilled Orders, Delivery Time, Inventories and Average work week were all in negative territory. Confidence fell in the six-month outlook as well, although the reading still indicated that most NYS Manufacturers expected business to be growing in six months.
See the full survey at: http://www.newyorkfed.org/survey/empire/empiresurvey_overview.html