May manufacturing flat in New York

NEW YORK, May 15 (UPI) -- Manufacturing activity in New York state declined slightly in May, the Federal Reserve Bank of New York said Thursday.

The bank's general business conditions index -- from data complied from 175 businesses -- fell below the break-even point of zero to a minus 3.2, the bank said.

The drop of 4 points is considered a marginal decline, indicating flat or stagnant business conditions in the state.

New orders fell fractionally, down to a minus 0.5 reading, while the employment index "hovers near zero," the report said.