Dec. Empire State index negative for fifth month

WASHINGTON (MarketWatch)
The Empire State manufacturing index remained in negative territory for the fifth month in a row, the New York Federal Reserve Bank said Monday
The index fell to negative 8.1 in December from negative 5.2 in November
Readings below zero indicate a decline in activity
Economists polled by MarketWatch expected the index to return to positive territory near 5.2
Details of the report were also weak
The key new orders sub-index fell below zero after returning to positive territory in November and shipments also retreated
Employment conditions remained in negative territory.
Manufacturers in the parts of the region hit by Hurricane Sandy estimated that revenues in October were 7% lower than otherwise would have been and 5% lower in November, the New York Fed said