New York Manufacturing Expands at Slowest Pace in Three Months

Manufacturing in New York expanded in November at the slowest pace in three months as orders and shipments cooled, indicating uneven growth for factories in the Empire State.

The Federal Reserve Bank of New York’s general business conditions index decreased to 6.3 from a reading of 10.5 a month earlier, a report out Monday showed. Readings above zero indicates expansion, and the median forecast in a Bloomberg survey of economists called for a reading of 13.5.