facebook
twitter
rss
account
search
search
 

N.Y. manufacturing resilient in March

March 15, 2013 at 11:11 AM   |   Comments

NEW YORK, March 15 (UPI) -- Manufacturing activity expanded modestly in New York state in March for the second consecutive month, the Federal Reserve Bank of New York said Friday.

The bank's monthly business index had turned positive in February for the first time since the summer of 2012, and in March it was "little changed," dropping from 10 to 9.2, the Fed said.

Numbers above zero indicate growth in business activity.

The new-orders index, also positive for two consecutive months, dropped to 8.2, down five points. The shipments index also fell five points, sliding to 7.8, "a sign that shipments rose at a slower pace this month," the Fed said.

For the fourth consecutive month, the index measuring the number of employees rose, but the Fed called the new reading, at 3.2, a sign of "sluggish" labor conditions.

The index measuring the number of hours worked was unchanged, the report said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Pakistan seeks coastal patrol cutters from U.S. Pakistan seeks coastal patrol cutters from U.S.
2
Gas capacity added to North Dakota shale Gas capacity added to North Dakota shale
3
Work moves ahead on two new guided missile destroyers Work moves ahead on two new guided missile destroyers
4
U.S. Navy authorizes building of Common Missile Compartment tubes U.S. Navy authorizes building of Common Missile Compartment tubes
5
Slovak military orders C-27J Spartans Slovak military orders C-27J Spartans
Trending News
Around the Web
x
Feedback