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.

Eren Sengezer FXStreet

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."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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