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Richmond Fed manufacturing index falls to 5.0 in December

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Investing.com - Investing.com - Manufacturing activity in Richmond expanded at a slower rate than expected in December, official data showed on Wednesday.

In a report, the Federal Reserve Bank of Richmond said that its manufacturing index fell to 5.0 in December from a reading of 9.0 in November.

Analysts had expected the index to increase to 12.0 in December.

On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.

Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD rising 0.45% to hit 1.3252.

Meanwhile, U.S. stock markets were up after the open. The Dow Jones Industrial Average added 0.2%, the S&P 500 index climbed 0.15%, while the Nasdaq Composite index was little changed.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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