(RTTNews) - A report released by the Federal Reserve Bank of New York on Friday unexpectedly showed a modest slowdown in the pace of growth in regional manufacturing activity in the month of November.
The New York Fed said its headline general business conditions index edged down to 2.9 in November from 4.0 in October, although a positive reading still indicates an increase in regional manufacturing activity. Economists had expected the index to inch up to 5.0.
Looking ahead, the report said indexes assessing the six-month outlook suggest optimism about future conditions remains subdued.
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