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As on: Feb 21, 2020 09:30 PM
Economic Buzz: New York Manufacturing Activity Records Modest Acceleration In January
16-Jan-20   09:06 Hrs IST

New York manufacturing activity recorded a modest acceleration in the pace of growth in the month of January, partly reflecting a notably faster rate of growth in new orders, the Federal Reserve Bank of New York reported on Wednesday. The New York Fed said its general business conditions index edged up to 4.8 in January from a revised 3.3 in December, with a positive reading indicating growth in regional manufacturing activity. The increase by the headline index came as the new orders index climbed to 6.6 in January from 1.7 in December, indicating a faster rate of growth. Meanwhile, the report said the shipments index edged down to 8.6 in January from 9.5 in December, pointing to a modest slowdown.

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