New York Manufacturing Picks Up as Orders, Sales Gain

Orders and sales at factories in the New York region picked up in January, signaling manufacturing will keep contributing to the expansion.

The Federal Reserve Bank of New York’s general economic index rose to 11.9 from a revised 9.9 in December. Economists projected an increase to 12.5, based on the median forecast in a Bloomberg News survey. Readings greater than zero signal expansion in the so-called Empire State Index, which covers New York, northern New Jersey, and southern Connecticut.