New York Factory Activity Unexpectedly Contracts as Orders Stall
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000A worker removes glass from an oven at a glassworks in the Brooklyn borough of New York.New York state factory activity unexpectedly shrank in December after two solid months of growth as orders stalled and shipments retreated.The Federal Reserve Bank of New York’s general business conditions index decreased by about 23 points to minus 3.9, figures issued Monday showed. Readings below zero indicate contraction, and the median estimate in a Bloomberg survey of economists was for a reading of 10.