Forexpros – The New York Federal Reserve’s index of manufacturing conditions deteriorated in April, growing at the slowest pace since November, official data showed on Monday.
In a report, the Federal Reserve Bank of New York said that its general business conditions index declined by 13.6 points to 6.6 in April from 20.2 in March.
Analysts had expected the index to decline by 2.2 points to 18.0 in April.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
The new orders and shipments indexes also remained positive, but showed only a small increase in orders and shipments.
The prices paid index inched downward but remained high, and the prices received index climbed six points to 19.3.
Future indexes remained quite positive, suggesting a strong and persistent degree of optimism about the six-month outlook.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.3% to trade at 1.3040.
Meanwhile, U.S. stock future indices added to gains after the release of the data. The Dow Jones Industrial Average futures pointed to an increase of 0.6%, S&P 500 futures pointed to a gain of 0.45%, while the Nasdaq 100 futures pointed to a rise of 0.45%.
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