Much like last month, confidence in business conditions remained in positive territory despite edging down from the previous reading. Even in the face of a half-point slide from 53.3 in March to 52.8 this month, the current component stayed above 50 for now the fourth consecutive month. The share of those reporting unchanged conditions increased over last month, while the proportion of panel members that noted either better or worse conditions decreased. Comments largely reflected the lukewarm numerical result, as perhaps the most representative remark suggested that “business seems to be good but not great.” 

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