gamingblockchaincompanies| New York State manufacturing activity shrank for sixth consecutive month

Topic: U.S. CPI in April shows cooling inflation boosts expectations for September interest rate cuts

As demand remains weakgamingblockchaincompanies, New York State manufacturing activity shrank for the sixth consecutive month in Maygamingblockchaincompanies, input and sales price indicators slowed down slightly.

The New York Federal Reserve's manufacturing overall business conditions index fell 1.1 per cent this monthgamingblockchaincompanies.3 points to-15gamingblockchaincompanies.6。A figure below zero indicates shrinkage. The median forecast of economists surveyed by Bloomberg was-10.

For more than two years, this data has shown large monthly fluctuations. Recent data, consistent with other indicators, suggests that U.S. manufacturing is struggling to gain growth momentum as input prices rise.

"Manufacturing conditions in New York State remained sluggish in May, with manufacturing activity and orders continuing to decline. Labor market conditions have also weakened, with both employment and working hours falling,"Richard Deitz, economic research consultant at the Federal Reserve Bank of New York, said in a statement.

New York State manufacturers 'current raw material payment price indicator fell 5.4 points to 28.3, and the receiving price index fell 2.8 points to 14.1. A measure of input price outlook rose.

Data released earlier this month by the Institute for Supply Management showed that the paid-price index rose to its highest level since mid-2022 in April, raising concerns that inflation could remain high.

New York State's manufacturing new orders index was basically flat at-16.5in May; the current employment index shrank for the seventh consecutive month, and the contraction of factory shipments slowed down.

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