New York Manufacturing Index Dips More Than Expected In December
A report released by the Federal Reserve Bank of New York on Tuesday showed regional manufacturing activity edged slightly higher in the month of December.
The New York Fed said its general business conditions index slipped to 4.9 in December from 6.3 in November, but a positive reading still indicates growth in regional manufacturing activity. Economist had expected the index to edge down to 5.8.
Looking ahead, the report said firms remained optimistic that conditions would improve over the next six months.