New York Factory Activity Expands for First Time in Five Months
- Empire State index jumped this month by more than 35 points
- Orders and shipments snapped back, input price growth cooled
This article is for subscribers only.
New York state manufacturing activity unexpectedly expanded in April for the first time in five months as new orders and shipments snapped back.
The Federal Reserve Bank of New York’s general business conditions index jumped over 35 points to 10.8 this month, the strongest reading since July, data showed Monday. Readings above zero indicate expansion, and the figure topped all forecasts in a Bloomberg survey of economists.