Monday, November 17, 2014

NY Fed: Empire State Manufacturing Survey indicates "pace of growth somewhat faster than last month’s" in November

by Bill McBride on 11/17/2014 08:34:00 AM

From the NY Fed: Empire State Manufacturing Survey

The November 2014 Empire State Manufacturing Survey indicates that business activity continued to expand for New York manufacturers. The headline general business conditions index climbed four points to 10.2, indicating a pace of growth somewhat faster than last month’s. The new orders index rose eleven points to 9.1, and the shipments index advanced eleven points to 11.8. The index for number of employees edged down to 8.5 but remained positive, indicating that employment levels grew; the average workweek index, by contrast, was negative, pointing to a decline in hours worked. ...
emphasis added
This is the first of the regional surveys for November.  The general business conditions index was at the consensus forecast of a reading of 10.5, and indicates slightly faster expansion in November than in October (above zero suggests expansion).