New York manufacturing index improves in March at the slower pace than in February

Manufacturing conditions in New York continued to advance in the month of March, however, with the pace of improvement showing a surprising slowdown compared to the prior month, the Federal Reserve Bank of New York reported on Friday. General business condition index of the New York Fed dropped from 10.0 points in February to 9.2 points in March, with the positive reading signalling an increase in activity.