The Empire State manufacturing index for June showed overall improvement but there is reason for concerns among the indexes.
The monthly report from the New York Federal Reserve Bank placed the general business conditions index at 7.8, up nine points and out of negative territory in May.
At the same time, most other indicators in the survey fell. The measurement for new orders slipped six points to -6.7, the shipments index fell twelve points to -11.8, and the unfilled orders index fell eight points to -14.5. Also, labor market conditions worsened.
The prices paid index held steady at 21.0, while the prices received index rose seven points to 11.3.
The Fed added that the six-month outlook declined, suggesting that optimism about future conditions was weakening further.