U.S. News

Early Release By New York Fed: Manufacturing Slowed In December


Released a day early, the New York Federal Reserve reports manufacturing activity in New York State factories slowed in December.

The New York Fed's "Empire State" general factory conditions index slipped to 23.13 in December from 26.66 in November. Economists polled by Reuters had expected a December reading of 18.00.

The new orders component rose to 25.12 in December from 22.38 in November, but the prices paid component fell to 28.09 in December, its lowest level of the year, from 34.90 in November.

The report was released ahead of schedule because of a "technical error," according to a statement from the New York Federal Reserve. The December data were set for release on Friday at 8:30 AM ET.

The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.