Business is still slumping in New York, a survey from the Federal Reserve Bank of New York said Wednesday.
“Business activity continued to decline in New York State,” the New York Fed said in its monthly Empire State Manufacturing Survey.
Delivery times also shortened for the second consecutive month, which the Fed says suggested that supply availability improved and inventories were steady. The Empire State Manufacturing Survey comes as the Department of Commerce released a report stating that Americans spent $697.9 billion at retail stores and online in February, which wasLooking ahead, businesses expect little improvement from these depressed business conditions over the next six months.
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