Economics
New York Manufacturing Expands Most Since 2018 as Prices Climb
- New York Fed Empire State gauge exceeds economists’ forecast
- Measures of prices paid, received highest since May 2011
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Manufacturing in New York expanded in March by the most since November 2018 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 rose to 17.4 from 12.1 a month earlier, a report Monday showed. Figures above zero indicate expansion, and the median forecast in a Bloomberg survey of economists called for a reading of 15.