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.

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.