Empire State Manufacturing index plunges more than expected
Advertisement
Business activity in New York state is slowing down more than expected.
Advertisement
The manufacturing index for May came in at -9.02 after spiking to a 15-month high of 9.56 in April. Economists had expected it at 6.50, according to Bloomberg.
The latest report showed that new orders and shipments declined and their indexes fell below zero. The capital expenditures index fell to its lowest level in over two years.
Employment was little changed, while the work week declined.
After reporting optimism in April, business owners became less bullish about business conditions out to six months.
Advertisement
Advertisement
- Luxury “floating” beach unveiled in France; Critics term it an “ecological aberration”
- Scientists think they’ve spotted 60 potential alien power plants in the Milky Way!
- Bread, butter, milk-based health drinks, cooking oils classified as ultra-processed food, ICMR advises restriction
- Debt, equity holders approve merger of IDFC with IDFC First Bank
- Sunrisers Hyderabad to take on Punjab Kings as they look to grab the second spot in IPL points table