NY Manufacturing Growth Nearly Halts in June; Empire Index Drops to 2.3

June 15, 2012 9:55 AM EDT
Manufacturing in New York during June showed a significant drop but still grew, according to new info from the New York Fed.

The NY Fed's Empire State business conditions index fell from 17.3 in May all the way to 2.3. That's the lowest its been since last November.

June 2011's reading came in at a negative 5.3, which was nearly a similar drop from the May 2011 reading.

The six-month outlook dropped for the fifth time to 23.1, as optimism about continued economic recovery continues to wane.

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