The Federal Reserve Bank of New York released a report on Wednesday unexpectedly showing a modest acceleration in the pace of growth in regional manufacturing activity in the month of December.
The New York Fed said its general business conditions index inched up to 31.9 in December from 30.9 in November, with a positive reading indicating growth. The uptick surprised economists, who had expected the index to pull back to 20.5.
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Forex News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.