Investing.com – The New York Federal Reserve’s index of manufacturing conditions rose significantly more-than-expected in December, official data showed on Wednesday.
In a report, the Federal Reserve Bank of New York said that its general manufacturing conditions index jumped to 10.6 in December, after plunging to -11.1 in November.
Analysts had expected the index to rise to 3.0 in December.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
According to the data, future indexes were generally at high levels, a sign that conditions were expected to improve over the next six months.
Following the release of the data the U.S. dollar was up against the euro, with EUR/USD shedding 0.28% to hit 1.3340.
Meanwhile, U.S. futures indexes pointed to a lower open: the Dow Jones Industrial Average futures indicated a decline of 0.14%, S&P 500 futures pointed to a drop of 0.28%, while the Nasdaq 100 futures indicated a loss of 0.29%.
In a report, the Federal Reserve Bank of New York said that its general manufacturing conditions index jumped to 10.6 in December, after plunging to -11.1 in November.
Analysts had expected the index to rise to 3.0 in December.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
According to the data, future indexes were generally at high levels, a sign that conditions were expected to improve over the next six months.
Following the release of the data the U.S. dollar was up against the euro, with EUR/USD shedding 0.28% to hit 1.3340.
Meanwhile, U.S. futures indexes pointed to a lower open: the Dow Jones Industrial Average futures indicated a decline of 0.14%, S&P 500 futures pointed to a drop of 0.28%, while the Nasdaq 100 futures indicated a loss of 0.29%.