Empire Manufacturing Index Declines in January
New York, NY, Jan. 15, 2013 -- The Empire Manufacturing worsened unexpectedly in January, the Federal Reserve Bank of New York said.
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The bank said that its general business conditions index declined to minus 7.8 in January from a reading of minus 7.3 in December.
Analysts had expected the index to improve to 2.0 in January.
Readings above 0.0 indicate improving conditions.