Manufacturing activity expanded slightly in New York state but signs of a slowdown were abundant, according to the June Empire State Manufacturing survey conducted by the Federal Reserve Bank of New York.
The survey's index of general business conditions fell 15 points but continued in positive territory at 2.3. Some 31% of manufacturers reporting said activity expanded during the month, but 28% said conditions had worsened.
The new orders index declined six points to 2.2, and the shipments index plummeted 19 points to 4.8.
The prices paid index fell for a third consecutive month to 19.6, compared to 37.35 in May. The prices received index dropped 11 points to 1.0, indicating manufacturers' selling prices were essentially unchanged.
Employment indexes indicated a slight increase in hiring and a longer average workweek.