New York ‘Empire State’ Index Declines in December

anufacturing growth slowed in New York state in December, the Federal Reserve Bank of New York said Thursday.

The regional Fed’s “Empire State index,” usually the first economic indicator of a given month, slid to a reading of 23.1 from 26.7 in November, the Fed said. Readings above zero indicate expansion.

The reading was higher than the 17.7 reading forecast by economists, Bloomberg reported.