By Joshua KirbyManufacturing activity in New York state ticked back up in November, reversing the previous month's decline, but firms' feelings for the near term worsened severely. The index also indicated falling employment levels in the state, as the employee-numbers index fell nearly eight points to minus 4.5. Looking ahead, firms became more pessimistic in November, the index shows. The index for future conditions plunged some 24 points to -0.9, marking the lowest level in nearly a year. "Looking ahead, firms became much less sanguine about the outlook," the New York Fed said.

Source: Wall Street Journal November 16, 2023 02:06 UTC