USA: The Empire State activity index fell more than expected in May | Photo credits: Ludovic Bertron / Creative Commons
May 16 (Reuters) – Manufacturing activity in the New York area fell more sharply than expected in May, the Federal Reserve’s regional branch monthly survey showed on Monday.
Its “Empire State” index fell to -11.6 after rising to +24.60 in April.
Economists polled by Reuters on average expected a figure of +17.
The new orders component came out in May at -8.8 after +25.1 last month and that of employment at +14 after +7.3.
The sub-index measuring companies’ assessment of their business prospects over a six-month horizon reached +18 in May after +15.2 in April.
(Report Diana Mandiá, edited by Kate Entringer)