New York Area Factories Expand at Fastest Pace Since June 2010

Manufacturing in the New York region expanded in February at the fastest pace since June 2010, a sign factories are propelling the expansion.

The Federal Reserve Bank of New York’s general economic index increased to 19.5 this month from 13.5 in January. The index exceeded all forecasts in a Bloomberg News survey of economists. Readings greater than zero signal expansion in the so-called Empire State Index, which covers New York, northern New Jersey, and southern Connecticut.