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Tuesday morning, the Federal Reserve Bank of New York released its report on conditions for New York manufacturers in the month of December, showing that conditions unexpectedly leveled off following four months of improvement.
The New York Fed said its index of activity in the manufacturing sector fell to 2.6 in December from 23.5 in November, with a positive reading indicating growth in the sector. The decrease surprised economists, who had expected the index to edge up to a reading of 24.0.
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