facebook
twitter
search
search

N.Y. manufacturing resilient in March

March 15, 2013 at 11:11 AM

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.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Compact cannon for British armored vehicles
Volvo unveils new child seat concept
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue
U.S. proposes tighter pipeline spill rules