New York Manufacturing Index Rises to Highest Since May
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Manufacturing in the New York region unexpectedly expanded in November, as measures of shipments and the employee workweek improved.
The Federal Reserve Bank of New York’s general economic index rose to 0.6, the first positive reading since May, from minus 8.5 in October. Economists projected the gauge would rise to minus 2, based on the median of 48 forecasts in a Bloomberg News survey. Readings higher than zero signal companies in the so-called Empire State Index, which covers New York, northern New Jersey, and southern Connecticut, are expanding.