NY Empire State Manufacturing Index improves to 3.5 in December vs. 4 expected
|- Manufacturing activity in State of New York expanded slightly in December.
- US Dollar Index registers modest gains ahead of PMI data.
The Federal Reserve Bank of New York's latest Empire State Manufacturing Survey showed that the business activity in New York State improved slightly with the headline General Business Conditions Index rising to 3.5 in December from 2.9 in November. This reading, however, came in below the market expectation of 4.
The US Dollar Index had little to no reaction to the data and was last down 0.2% on the day at 96.99.
"Indexes assessing the six-month outlook suggested that optimism about future conditions improved for a second consecutive month," the publication read. "The index for future business conditions climbed ten points to 29.8."
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