New York Factory Activity Stalls, Inflation Expectations Ease
A worker puts glass into an oven at a glassworks in New York.
Photographer: Stephanie Keith/BloombergNew York state factory activity stalled in March, dragged down by a decline in shipments, though manufacturers expect less strain from inflation in the months ahead.
The Federal Reserve Bank of New York’s general business conditions index decreased by about 7 points to minus 0.2, figures issued Monday showed. Readings below zero indicate contraction, and the median estimate in a Bloomberg survey of economists was for a reading of 3.9.