March 15 (Reuters) – Manufacturing activity in the New York region recorded a sharper decline than expected in March, the monthly survey from the regional branch of the Federal Reserve showed on Friday.
Its “Empire State” index drops to -20.9 after -2.4 in February.
Economists polled by Reuters on average forecast a figure of -7 in March.
The new orders component stood at -17.2 in March after -6.3 last month and that of employment at -7.1 after -0.2.
The sub-index measuring companies’ judgment on their business prospects over a six-month horizon increased slightly to reach +21.6 after +21.5 in March. (Writing by Nathan Vifflin, editing by Kate Entringer)
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