FXstreet.com (Barcelona) - The results of the Manufacturing Survey conducted by Empire State indicate that manufacturing activity would decelerate sharply in December, as the general conditions index declined to the level of 10.3 points in December from the 27.37 points registered in November.

The result came out well below market expectations which anticipated a slight decline to the level of 20 points in the month. In December's survey 35 percent of respondents reported improved conditions, while 24 percent said that conditions have deteriorated.

The prices paid index, although it declined in the month, the reading was high at 35.0 points. The number of employees index remained relatively unchanged printing 12.8 points in December.

New orders index fell to the level of 14.3 points in December from the 24.3 points posted in November. Shipments index declined to 21.1 points from the 22.1 points seen previous month.

The future general buisines conditions remained at high levels with a reading of 32.4 points in December.