Federal Reserve Bank of New York (04/15/15)

Business activity was flat for New York manufacturers, according to the April 2015 Empire State Manufacturing Survey. The headline general business conditions index turned slightly negative for the first time since December, falling eight points to -1.2. The new orders index, negative for a second consecutive month, dropped four points to -6.0—evidence that orders were declining. The shipments index climbed to 15.2, indicating that shipments expanded at a solid pace.

Labor market conditions were mixed. Although the index for number of employees fell, it remained well above zero at 9.6, indicating that employment continued to grow. However, the average workweek index fell nine points to -4.3, pointing to a slight decline in the average workweek.