He New York Federal Reserve’s Empire State Manufacturing Survey general index of trade conditions fell to 4.9 in December from 6.3 in November. The reading was lower than the market consensus which was 6.9.
Further details from the post revealed that the New Orders Index dropped to 3.4 from 3.7, the Paid Price Index jumped to 37.1 from 29.1 and the Employment rate improved to 14.2 from 9.4. Lastly, the six-month business conditions index rose to 36.3 from 33.9.
Later on Tuesday the industrial production report will be published. In addition, the two-day meeting of the Federal Reserve will begin whose decision will be known on Wednesday.
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