N.Y. BCI Drops to 19.11 From 31.86 in April: Fed

The Empire State Manufacturing Survey general business conditions index slipped to 19.11 in the month from 31.86 in April, the Federal Reserve Bank of New York reported yesterday.

Economists expected the index would be 30.00.

Looking six months into the future, the general business conditions index decreased to 42.11 from 55.70 last month. The new orders index slumped to 39.47 from 46.84.

The capital expenditures expectations index rose to 38.16 from 31.65. The technology spending index increased to 21.05 from 20.25.

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