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New York manufacturing activity falls again

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Akimov Igor / Shutterstock.com Akimov Igor / Shutterstock.com

Activity decreases for 5th straight month.

According to the New York Federal Reserve, manufacturing activity in the state of New York fell again in December, contracting for the fifth month in a row.

The December 2015 Empire State Manufacturing Survey saw the general business conditions index came in at -4.6 (readings below 0 indicates contraction), which, although still signifying contraction, was an improvement on November’s reading of -10.7.

Analysts had expected an increase to -6.85.

The new orders index also came in in negative territory at -5.0, which was, however, an improvement on last month’s reading of -11.8. 

One bit of good news came in the form of expanding shipments activity, with the shipments index rising 10 point to 5.5.

The most significant decline came in the labor market, with the employment index falling sharply to -16.2 from last month’s -7.3.

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