FOREX TradingCharts.com

Financial News: New York Manufacturing Activity Edges Slightly Higher In

New York Manufacturing Activity Edges Slightly Higher In December

12/15/2020 - 09:31:00 (RTTNews)

(RTTNews) - A report released by the Federal Reserve Bank of New York on Tuesday showed regional manufacturing activity edged slightly higher in the month of December.

The New York Fed said its general business conditions index slipped to 4.9 in December from 6.3 in November, but a positive reading still indicates growth in regional manufacturing activity. Economist had expected the index to dip to 5.8.

"Empire State manufacturing growth pulled back to a softer pace of expansion in December as the recovery cools and resurgent infection rates weigh on activity," said Oren Klachkin, Lead U.S. Economist at Oxford Economics.

The modest decrease by the headline index partly reflected a slight slowdown in the pace of growth in new orders, as the new orders index edged down to 3.4 in December from 3.7 in November.

On the other hand, the report said the shipments index jumped to 12.1 in December from 6.3 in November and the number of employees index advanced to 14.2 from 9.4.

The prices paid index also surged up to 37.1 in December from 29.1 in November, while the prices received index fell to 10.0 from 11.3.

Looking ahead, the New York Fed said firms remained optimistic that conditions would improve over the next six months, with the index for future business conditions rising to 36.3 in December from 33.9 in November.

"Manufacturing's strong performance this year isn't likely to be repeated in 2021," Klachkin said. "An end to the health crisis is slowly coming into view, but less buoyant demand, some lingering Covid-related supply chain disruptions, and less stimulative fiscal policy will constrain manufacturing activity next year."

He added, "Additionally, double dip recession risks will continue to run high if Congress doesn't provide more fiscal relief and the health crisis isn't over."

On Thursday, the Philadelphia Federal Reserve is scheduled to release its report on regional manufacturing activity. The Philly Fed Index is expected to drop to 20.0 in December from 26.3 in November.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Japan Interest Rate Decision On Tap For Thursday (01 hr(s), 08 min(s), 51 sec(s) ago)
(RTTNews) - The Bank of Japan will wrap up its monetary policy meeting and then announce its decis ...Full Story»

South Korea Producer Prices Jump 0.7% In December (02 hr(s), 19 min(s), 51 sec(s) ago)
(RTTNews) - Producer prices in South Korea were up 0.7 percent on month in December, the Bank of K ...Full Story»

U.S. Homebuilder Confidence Unexpectedly Drops In January (07 hr(s), 38 min(s), 51 sec(s) ago)
(RTTNews) - Reflecting concerns about rising material costs and the resurgence of the coronavirus, ...Full Story»

Cyprus HICP Inflation Remains Negative (08 hr(s), 19 min(s), 51 sec(s) ago)
(RTTNews) - Cyprus's EU measure of inflation remained in the negative territory for the ninth ...Full Story»

Luxembourg Jobless Rate Rises In December (08 hr(s), 26 min(s), 51 sec(s) ago)
(RTTNews) - Luxembourg's unemployment rate rose in December, after remaining steady in the pre ...Full Story»

UK House Price Inflation Highest Since Mid-2016 (11 hr(s), 24 min(s), 51 sec(s) ago)
(RTTNews) - UK house prices grew at the fastest pace in more than four years in November as homebu ...Full Story»

Greece Current Account Gap Narrows In November (11 hr(s), 40 min(s), 51 sec(s) ago)
(RTTNews) - The Greece current account deficit narrowed in November from the previous year, the Ba ...Full Story»

Austria Inflation Slows In December (11 hr(s), 54 min(s), 51 sec(s) ago)
(RTTNews) - Austria's consumer price inflation eased in December, figures from Statistics Aust ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Japan Interest Rate Decision On Tap For Thursday

01/20/2021 - 17:30 PM (RTTNews)
(RTTNews) - The Bank of Japan will wrap up its monetary policy meeting and then announce its decis ...Full Story>>

South Korea Producer Prices Jump 0.7% In December

01/20/2021 - 16:19 PM (RTTNews)
(RTTNews) - Producer prices in South Korea were up 0.7 percent on month in December, the Bank of K ...Full Story>>

U.S. Homebuilder Confidence Unexpectedly Drops In January

01/20/2021 - 11:00 AM (RTTNews)
(RTTNews) - Reflecting concerns about rising material costs and the resurgence of the coronavirus, ...Full Story>>

Cyprus HICP Inflation Remains Negative

01/20/2021 - 10:19 AM (RTTNews)
(RTTNews) - Cyprus's EU measure of inflation remained in the negative territory for the ninth ...Full Story>>

Luxembourg Jobless Rate Rises In December

01/20/2021 - 10:12 AM (RTTNews)
(RTTNews) - Luxembourg's unemployment rate rose in December, after remaining steady in the pre ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.