Manufacturing activity in the New York area has regained some strength after several months of slowdown, and has exceeded analysts’ expectations, according to the Empire State monthly indicator released Tuesday by the Fed.
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The index measuring general business conditions climbed nearly 9 points to 12.1 points, its level “highest in several months“. This is better than expected by analysts who expected a level of 9 points.
«Manufacturing activity grew at its fastest pace in months in New York State in February“, Underlines the Fed which also specifies that the component measuring the evolution of the prices of raw materials increased at its rate”fastest in almost a decade“, Consequently, “sales prices have increased significantly».
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