New York manufacturing throttles back

NEW YORK, April 16 (UPI) -- The New York Federal Reserve branch said its general business conditions index remained positive, but drooped significantly in April.

In the Empire State, the Fed's index for general business conditions fell 14 points to 6.6, the Fed said.

In the survey taken the first half of each month, numbers above zero indicate growth.

The April survey found the pace of growth had slowed.

Strikingly, the index covering prices paid in New York, which jumped sharply in March, "inched downward but remained high," the Fed said.

The prices received index, concurrently, climbed six points to 19.3. The new orders index, meanwhile, remained positive at 6.5.

In New York, the number of employees index rose from 13.6 to 19.3. The average employee work hours index fell sharply, however, from 18.5 to 6.