NY state factory activity unexpectedly slows in June

It's only one piece of the recovery puzzle, but it's one investors can not afford to ignore, and in June it regressed. Manufacturing conditions in the New York region deteriorated in June, after several months of improvement.

The Empire State Manufacturing Index fell to -9.4 in June from -4.6 in May, the New York Federal Reserve announced Monday. The index totaled -4.7 in April. Readings below zero indicate manufacturing activity is contracting.