India, April 15 -- New York manufacturing activity has declined modestly in the month of April, the Federal Reserve Bank of New York revealed in a report released on Tuesday.
The New York Fed said its general business conditions index jumped to a negative 8.1 in April after plunging to a negative 20.0 in March, although a negative reading still indicates contraction. Economists had expected the index to rise to a negative 14.5.
The bigger than expected rebound by the headline index came as new orders and shipments decreased at slower rates compared to the previous month.
The new orders index climbed to a negative 8.8 in April from a negative 14.9 in March, while the shipments index rose to a negative 2.9 in April from a negative 8.5 in M...