Survey: New York factories grow at slower pace in November

WASHINGTON — Manufacturing activity in New York expanded at a slower pace this month but remains at a healthy level.

The Federal Reserve Bank of New York says its Empire State Manufacturing Survey slid to 19.4 in November from a three-year high 30.2 last month. But any reading over zero signals growth. New orders grew faster this month, though shipments and hiring expanded at a slower pace.

Across the United States, factories are benefiting from a strengthening global economy and from a weaker dollar, which makes U.S. products cheaper in foreign markets.

The Institute for Supply Management, a trade group of purchasing managers, reported earlier this month that U.S. manufacturing has expanded for 14 straight months.