New York manufacturing remains flat in December

The general business index for the manufacturing sector in New York was flat in December, the Federal Reserve Bank of New York said Monday. The general business index added three points to reach 1, which indicates that business activity "changed little over the month," the Fed said. The new orders index rose, but not enough to break into positive territory, registering a minus 3.5 measure for the month. The shipments index rose to 7.7 , while unfilled orders dropped to minus 24.1. The inventories index fell 20 points to minus 21.7, the Fed said. For the second consecutive month, the index for employment remained flat at 0.0, while the index for average workweek fell six points to minus 10.8, the Fed said.