Investing.com - The New York Federal Reserve’s index of manufacturing conditions deteriorated unexpectedly in January, remaining in contraction territory for the sixth consecutive month, official data showed on Tuesday.
In a report, the Federal Reserve Bank of New York said that its general business conditions index declined to minus 7.8 in January from a reading of minus 7.3 in December.
Analysts had expected the index to improve to 2.0 in January.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
The new orders index fell four points to -7.2, and the shipments index declined a full fifteen points to -3.1.
http://www.investing.com/news/economic-indicators/empire-state-manufacturing-index-declines-to-minus-7.8-243053
In a report, the Federal Reserve Bank of New York said that its general business conditions index declined to minus 7.8 in January from a reading of minus 7.3 in December.
Analysts had expected the index to improve to 2.0 in January.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
The new orders index fell four points to -7.2, and the shipments index declined a full fifteen points to -3.1.
http://www.investing.com/news/economic-indicators/empire-state-manufacturing-index-declines-to-minus-7.8-243053
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