New York Manufacturing Index Decreases More Than Expected In March

(RTTNews) - New York manufacturing activity was little changed in the month of March, according to a report released by the Federal Reserve Bank of New York on Monday.

The New York Fed said its general business conditions index fell to a negative 0.2 in March from a positive 7.1 in February, with a negative reading indicating contraction. Economists had expected the index to decrease to 3.2.

Looking ahead, the New York Fed said firms remained optimistic conditions would improve in the months ahead, although the index for future business conditions dropped to 31.0 in March from 34.7 in February.