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New York Fed manufacturing index fell contrary to expectations in November

16.11.2020
47
New York Fed manufacturing index fell contrary to expectations in November

U.S. Federal Reserve (Fed) New York Branch manufacturing index fell to 6.3 in November, falling contrary to expectations.

New York Fed’s manufacturing index report for November was published.

According to the report prepared as a result of the survey conducted with companies operating in the manufacturing sector in New York, the manufacturing index decreased by 4.2 points to 6.3 in November.

Contrary to market expectations, the declining data was predicted to be 13.5 in November.

In this period, the index, which declined to the lowest level in 3 months and pointed to the slowdown in the growth rate of the sector, dropped to 10.5 in October.

The new order index decreased by 8.6 points to 3.7 in November, and the shipping index decreased by 11.5 points to 6.3. Optimism about the next 6 months outlook increased from 32.8 to 33.9.

The manufacturing index, which gives information about the outlook in the production sector, points to a growth in the sector, and a contraction if it is below zero.

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