New York manufacturing index unexpectedly turns negative in MayStaff Writer | May 15, 2017
Activity in the New York manufacturing sector has unexpectedly seen a modest contraction in the month of May, according to a report released by the Federal Reserve Bank of New York on Monday.
Empire State Activity in the New York manufacturing sector
The index's pullback into negative territory came as a surprise to economists, who had expected the index to rise to a positive 7.0. ■