New York Manufacturing Index Slows in January

anufacturing growth in New York state slowed in January from the December rate, which had been the fastest pace in 17 months, the Federal Reserve Bank of New York said Tuesday.

The New York Fed’s “Empire State index” fell to 20.1 from a revised 26.3 in December that had originally been reported at 28.7. Readings above zero indicate expansion.

The reading was just below the 21 predicted by economists, Bloomberg reported. In February 2004, the index reached a record high of 39.6.