May Empire Manufacturing Index Slows to 19.1%

The Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York indicates that conditions for New York manufacturers continued to improve for a tenth consecutive month in May, albeit at a slower pace than in April. The bank’s Empire State Manufacturing index decelerated to 19.1 in May from 31.9 in April. Similarly, the new orders and shipments indexes also moved lower but remained at positive levels – NY Fed