Manufacturing activity in New York state continues to soften

New York state saw a continued decline in manufacturing activity in April, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York. The General Business Conditions Index rose nearly seven points from March to April but remains in negative territory at -14.3. This is the fifth consecutive month the reading has indicated deteriorating business conditions.

“Manufacturing activity continued to contract in New York state in April, and employment continued to decline,” commented Richard Deitz, economic research advisor at the New York Federal Reserve. “Optimism about the outlook for future business conditions remained subdued.”