WASHINGTON — Manufacturing in New York state expanded in January for the third straight month, as new orders and shipments grew. The Federal Reserve Bank of New York said Tuesday that its manufacturing index slipped slightly to 6.5 in January from 7.6 the previous month. The report adds to evidence that manufacturing in the state is growing modestly, but not fast enough to spur any hiring. Still, manufacturing firms in the state are optimistic: A measure of expected business conditions in six months nearly matched December's five-year high. Manufacturers added 17,000 jobs in December, though they still shed 45,000 in all of 2016.

Source: New York Times January 17, 2017 14:07 UTC