Economics
New York Manufacturing Expands at Faster Pace as Prices Jump
- Gauges of prices paid, received climb to highest since 2011
- New York Fed Empire State survey also shows longer lead times
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Manufacturing in New York expanded in February by the most in five months as a growing number of factories in the state reported paying more for materials and charging higher prices.
The Federal Reserve Bank of New York’s general business conditions index increased to 12.1 from 3.5 a month earlier, a report Tuesday showed. Figures above zero indicate expansion, and the median forecast in a Bloomberg survey of economists called for a reading of 6.