N.Y. factory index dips in November, but still indicates growth

A key manufacturing measure, the Empire State Manufacturing Index, declined about 11 points to 23.51 in November, but the reading still indicates that conditions are improving for manufacturers, the New York Federal Reserve announced Monday.

Readings above zero indicate manufacturing activity is growing; below zero, contracting. Economists surveyed by Bloomberg News had expected the Empire State Manufacturing Index to fall to 29.0 in November from 34.57 in October. The index was last below zero in July, at -0.55%.