Economics
New York Manufacturing Expands More Than Forecast, Prices Rise
- New York Fed index jumps 16 points this month to 34.3
- Delivery times, prices received measures hit records
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A gauge of New York state manufacturing in September soared as measures of orders and shipments rebounded sharply, while a measure of selling prices advanced to an unprecedented level.
The Federal Reserve Bank of New York’s general business conditions index jumped to 34.3 from 18.3 a month earlier, a report showed Wednesday. Figures above zero indicate expansion, and the September print far exceeded the highest estimate in a Bloomberg survey of economists.