Business activity in New York missed the expectation

 

• December Empire State Manufacturing: +4.9 vs. +6.9 consensus and +6.3 prior.
• New Orders index: +3.4 vs. +3.7 prior.
• Shipments index: +12.1 vs. +6.3 prior.
• Number of employees index: +14.2 vs. +9.4 prior; its highest level in over a year.
• Capital expenditures index rose to 16.4 from 17.9 in November; technology spending index increased to 12.1 from 17.9.
• Index for future business conditions changed at 36.3.
• The indexes for future new orders and shipments were positive and similar to last month’s readings. Employment levels and the average workweek are expected to continue to increase in the months ahead.