The New York Fed's Empire State Manufacturing Survey for the month of May is out.
The headline index fell to -1.43 from 3.05 in April, defying economists' prediction for a rise to 4.00.
The new orders sub-component fell to -1.17 in May from 2.20 in April.
The shipments sub-component fell to -0.02 from 0.75.
Below is a summary of the data from the release:
The May 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers declined marginally. The general business conditions index fell four points to -1.4, its first negative reading since January. The new orders index also edged into negative territory, and the shipments index fell to zero.
The prices paid index declined eight points to 20.5, indicating a slowdown in selling price increases, while the prices received index was little changed at 4.6. Employment indexes were mixed, showing both a modest increase in the number of employees and a slight decline in the length of the average workweek.
Indexes for the six-month outlook were generally lower, suggesting t hat optimism about future conditions had weakened.
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