Mumbai, June 17 -- According to a report released by the Federal Reserve Bank of New York on Monday, New York manufacturing activity fell for a fourth consecutive month in June.
The New York Fed said its general business conditions index slid to a negative 16.0 in June from a negative 9.2 in May, with a negative reading indicating contraction.
The unexpected decrease by the headline index partly reflected a substantial downturn by new orders, as the new orders index plunged to a negative 14.2 in June from a positive 7.0 in May.
The report also showed a notable downturn by shipments, with the shipments index tumbling to a negative 7.2 in June from a positive 3.5 in May.
On the other hand, the New York Fed said the number of employees ind...