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New York Manufacturing Activity Slows, Fed Survey Shows

Manufacturing activity in New York State factories slowed at slightly slower pace than had been expected in December from November, the New York Federal Reserve said on Thursday.

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 the index to fall sharply in December to a 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 New York Fed released the report ahead of schedule due to a technical error. The
December data was set for release at 8:30 am New York time on Friday.

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