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Business activity leveled off in New York State
Business activity leveled off in New York State, according to firms responding to the May 2017 Empire State Manufacturing Survey.
The headline general business conditions index fell six points to -1.0. The new orders index dropped to -4.4,
suggesting a small decline in orders, and the shipments index edged down to 10.6, indicating that shipments increased at a slightly slower pace than in April. Labor market indicators pointed to a modest increase in both
employment and hours worked, and input prices and selling prices rose at a more moderate pace. Indexes assessing the six-month outlook were close to last month's levels, and continued to convey a high degree of optimism about future conditions.
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