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The New York Federal Reserve released its survey on Tuesday. The NY Fed Empire State manufacturing index declined to 7.78 in February from 9.95 in January, missing expectations for a fall to 9.1.
The new orders index plunged to 1.22 in February from 6.09 in January.
The index for the number of employees decreased to 10.11 in February from 13.68 last month.
"Conditions for New York manufacturers improved modestly for a second consecutive month", the report said.
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