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NY Fed Manufacturing Index Contracts in May to Lowest in Four Months

Reuters (05/15/13)

The Empire State manufacturing survey fell into negative territory in May for the first time since January, the New York Federal Reserve said today. The general conditions index fell to a negative 1.4 in May from positive 3.1 in April, compared to economists’ expectations for an increase to 4.0. It was the first reading below zero since January, which indicates contraction for the sector.