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May Manufacturing Flat In New York
Thursday, 15-May-2008 12:10PM United Press International
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NEW YORK, May 15 (UPI) -- Manufacturing activity in New York state declined slightly in May, the Federal Reserve Bank of New York said Thursday.

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The bank's general business conditions index -- from data complied from 175 businesses -- fell below the break-even point of zero to a minus 3.2, the bank said.

The drop of 4 points is considered a marginal decline, indicating flat or stagnant business conditions in the state.

New orders fell fractionally, down to a minus 0.5 reading, while the employment index "hovers near zero", the report said.

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