2019.12.1612:42:00UTC+00New York Manufacturing Index Inches Higher In December

New York manufacturing activity has grown at a slightly faster rate in the month of December, according to a report released by the Federal Reserve Bank of New York on Monday.

The New York Fed said its general business conditions index inched up to 3.5 in December from 2.9 in November, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to rise to 4.0.

The report said indexes assessing the six-month outlook suggested that optimism about future conditions improved for a second consecutive month.