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- NY Fed Empire State manufacturing index climbed to 9.5 in January
NY Fed Empire State manufacturing index climbed to 9.5 in January
The New York Federal Reserve released its survey on Thursday. The NY Fed Empire State manufacturing index climbed to 9.5 in January from -1.23 in December, exceeding expectations for a rise to 5.3. December's figure was revised up from -3.6.
The decline was driven by a fall in orders and shipments.
The new orders index climbed to 6.09 in January from a revised reading of 0.39 in December.
The index for the number of employees increased to 13.68 in January from 8.33 last month.
"Indexes for the six-month outlook pointed to widespread optimism about future conditions", the report said.
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