New York Factory Activity Contracts at Fastest Pace in a Year
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New York state manufacturing activity dropped in March to the lowest level since early 2024 while measures of prices picked up, consistent with expectations for slower growth and faster inflation as tariffs set in.
The Federal Reserve Bank of New York’s manufacturing index fell nearly 26 points to minus 20, according to data out Monday. Meantime, a gauge of prices paid rose to 44.9, a two-year high. Another index of prices received also advanced to the highest since 2023.