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Financial News: New York Manufacturing Index Returns To Positive Territory

New York Manufacturing Index Returns To Positive Territory In November

11/15/2022 - 08:44:00 (RTTNews)

(RTTNews) - New York manufacturing activity has seen a notable rebound in the month of November, the Federal Reserve Bank of New York revealed in a report released on Tuesday.

The New York Fed said its general business conditions index surged to a positive 4.5 in November from a negative 9.1 in October, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to jump to a positive 5.0.

Meanwhile, the report said firms expect business conditions to worsen over the next six months, with the index for future business conditions falling to a negative 6.1 in November from a negative 1.8 in October.

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