Financial News: New York Manufacturing Index Plunges Much More Than

New York Manufacturing Index Plunges Much More Than Expected In March

03/17/2025 - 08:42:00 (RTTNews)

(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manufacturing activity dropped significantly in the month of March.

The New York Fed said its general business conditions index plunged to a negative 20.0 in March after jumping to a positive 5.7 in February, with a negative reading indicating contraction. Economists had expected the index to fall to a negative 1.9.

Looking ahead, the report said optimism about the outlook waned considerably for a second consecutive month, as the index for future business activity slumped to 12.7 in March after tumbling to 22.2 in February.

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