by Calculated Risk on 1/15/2014 08:45:00 AM
Wednesday, January 15, 2014
NY Fed: Empire State Manufacturing Activity indicates faster expansion in January
From the NY Fed: Empire State Manufacturing Survey
The January 2014 Empire State Manufacturing Survey indicates that business activity expanded for New York manufacturers, and did so at a faster pace than in recent months. The general business conditions index rose ten points to 12.5, its highest level in more than a year. The new orders index climbed thirteen points to 11.0, a two-year high, and the shipments index rose to 15.5. ...This is the first of the regional surveys for January. The general business conditions index was above the consensus forecast of a reading of 3.3, and indicates faster expansion. The internals were solid too, with new orders at a two year high, and the employment index increasing.
Employment indexes suggested an improvement in labor market conditions. The index for number of employees rose twelve points to 12.2, indicating a modest increase in employment levels, and the average workweek index rose to 1.2—a sign that hours worked held steady.
emphasis added