NEW YORK AREA MANUFACTURING ACTIVITY COLLAPSES

Manufacturing in America continues to struggle.

The New York Fed’s Empire Manufacturing index plunged to -19.37 in January from -6.21 in December.

“Business activity declined for New York manufacturing firms more sharply than at any time since the 2007-09 recession, according to the January 2016 survey,” the New York Fed said.

More to come …

NOW WATCH: This one ingredient is making a lot of Americans fat

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.