New York manufacturing activity has seen a notable rebound in the month of November, the Federal Reserve Bank of New York revealed in a report released on Tuesday.
The New York Fed said its general business conditions index surged to a positive 4.5 in November from a negative 9.1 in October, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to jump to a positive 5.0.
Meanwhile, the report said firms expect business conditions to worsen over the next six months, with the index for future business conditions falling to a negative 6.1 in November from a negative 1.8 in October.
