The Empire State Manufacturing Survey “indicates that manufacturing activity in New York continued to deteriorate in June,” as the general business conditions index slipped to negative 8.93 in May from a negative 3.23 reading in May, the Federal Reserve Bank of New York reported yesterday.

Economists surveyed by IFR Markets had expected a reading of negative 0.50.

Looking six months into the future, the general business conditions index rose to 29.41 from 23.88 last month.

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