New York manufacturing activity contracted in March, with the Federal Reserve Bank of New York's index falling to -20.9.

New York manufacturing activity contracted by more than forecast in March, with gauges of orders, shipments, and employment all decreasing. The Federal Reserve Bank of New York's general business conditions index fell 18.5 points to a reading of -20.9, indicating contraction. New York state manufacturers did not expect a faster pace of input-cost inflation but remained confident in their ability to pass on high prices.