New York Factory Activity Contracts While Outlook Improves
New York state factory activity shrank in June by more than projected as orders and shipments contracted, though expectations improved.
The Federal Reserve Bank of New York's general business conditions index declined nearly 7 points to minus 16, marking a fourth straight month of contraction, data showed Monday. Readings below zero indicate contraction. The median forecast in a Bloomberg survey of economists called for a reading of minus 6.
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