U.S. Jan. Empire State Manufacturing Index (Text)

Following is the text of the Empire State Manufacturing Index.

The January 2014 Empire State Manufacturing Survey indicates that business activity expanded for New York manufacturers, and did so at a faster pace than in recent months. The general business conditions index rose ten points to 12.5, its highest level in more than a year. The new orders index climbed thirteen points to 11.0, a two-year high, and the shipments index rose to 15.5. The unfilled orders index remained negative at -8.5. The indexes for both prices paid and prices received were significantly higher, pointing to an acceleration in the pace of input and selling price increases. Employment indexes indicated an improvement in labor market conditions. Indexes for the six-month outlook continued to convey a fair degree of optimism about future conditions.