New York Manufacturing Activity Falls For Fourth Month

According to a report released by the Federal Reserve Bank of New York on Monday, New York manufacturing activity fell for a fourth consecutive month in June.

The New York Fed said its general business conditions index slid to a negative 16.0 in June from a negative 9.2 in May, with a negative reading indicating contraction. Economists had expected the index to climb to a negative 5.5.

Meanwhile, the New York Fed said firms turned optimistic about the outlook, with the future general business conditions index turning positive for the first time since March.

At 1 pm ET, the Treasury Department is scheduled to announce the results of this month’s auction of $13 billion worth of twenty-year bonds.