The Empire State Manufacturing Survey barely expanded in January, coming in well below the 12.0 consensus forecast at 3.9.
Readings above 0 point to growth, while readings below indicate contraction.
The reading on the general business conditions fell 8 points, its lowest reading since mid-2017. The index for future business conditions fell 13 points to 17.8.
Twenty-three percent (23%) of respondents reported that conditions had improved over the month, while 20% said conditions worsened. The new orders index fell 10 points to 3.5.
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