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Economic Report:

The state of New York saw manufacturing decline in the February at the fastest pace since tracking began in 2001. Manufacturing in the state is tracked by the Empire State Manufacturing Index and follows shipments, new orders, employment and other trends. This is the tenth straight month of declines for the index. The new orders index also saw a drop of 8 points with the employment index dropping substantially by 13 points and the average workweek index saw a 7 point drop to a record low.