June Empire State index retreats to 2.3

WASHINGTON (MarketWatch)
The Empire State manufacturing index declined sharply to 2.3 in June, the New York Federal Reserve Bank said Friday
The decline was larger than expected
Economists polled by MarketWatch expected the index to pull back to 12.8 in June
The index had rebounded in May to 17.1 after having fallen sharply in April
In June, underlying conditions were also poor
The new orders and shipment indices decreased
Two readings on employment were weaker
The index for prices paid pulled back
A reading of expected conditions in six-months retreated to 23.1 in June from 29.3 in May, the fifth straight monthly decline