Mumbai, Feb. 18 -- The Federal Reserve Bank of New York released a report on Tuesday showing a modest increase in regional manufacturing activity in the month of February.
The New York Fed said its general business conditions index edged down to 7.1 in February from 7.7 in January, but a positive reading still indicates growth.
The slight decrease by the heading index partly reflected a downturn by shipments, as the shipments index plunged to a negative 1.0 in February from a positive 16.3 in January.
The new orders index also slipped to 5.8 in February from 6.6 in January, although the positive reading points to an ongoing increase in orders.
Meanwhile, the report said the number of employees index surged to a positive 4.0 in February ...