New York, N.Y. (PPD) — The Federal Reserve Bank of New York Empire State Manufacturing Survey has started slow in November, coming in at half the consensus forecast. The headline general business conditions index fell four points to 6.3, the fourth straight positive reading that indicates far slower growth than in October.
Forecasts for the headline index ranged from a low of 12.2 to a high of 16.0. The consensus forecast was 13.5.
Thirty-one percent (31%) of respondents reported that manufacturing conditions improved over the month, while 24% said conditions had worsened.
