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2018.12.1708:36:00UTC+00New York Manufacturing Index Tumbles Much More Than Expected In December

Business activity in the New York manufacturing sector saw substantially slower growth in the month of December, according to a report released by the Federal Reserve Bank of New York on Monday.

The New York Fed said its general business conditions index tumbled to 10.9 in December after rising to 23.3 in November.

While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index to dip to 20.0.

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