Economics
New York Factories Expand at Solid Pace, Price Gauges at Record
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New York state manufacturing continues to grow at another solid pace in May, reflecting the strongest orders in 15 years, while record shares of factories reported paying more for materials and charging higher prices.
The Federal Reserve Bank of New York’s general business conditions index cooled to 24.3 from 26.3 a month earlier, a report showed Monday. Figures above zero indicate expansion, and the median forecast in a Bloomberg survey of economists called for a reading of 23.9.