The Federal Reserve Bank of New York released a report on Wednesday showing regional manufacturing activity was little changed in the month of June.
The report showed the general business conditions index rose to a negative 1.2 in June from a negative 11.6 in May, with a negative reading indicating a contraction in regional manufacturing activity. The index was expected to jump to a positive 3.0.
Looking ahead, the New York Fed said optimism about the six-month outlook remained muted, with the index for future business conditions falling to 14.0 in June from 18.0 in May.
