Economics
New York Manufacturing Expands More Than Forecast as Orders Grow
- Empire State business conditions index highest since 2018
- Gauges of orders and shipments were strongest since February
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A gauge of manufacturing in New York State advanced for a third straight month in July, consistent with a reopening of the economy that is generating more orders and shipments.
The Federal Reserve Bank of New York’s general business conditions index jumped to 17.2, the highest level since November 2018, from minus 0.2 a month earlier, a report out Wednesday showed. The median projection in a Bloomberg survey of economists called for the overall gauge to climb to 10.