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Monday, September 15, 2014

NY Fed: Empire State Manufacturing Survey indicates "business activity expanded at a robust pace" in September

by Calculated Risk on 9/15/2014 08:34:00 AM

From the NY Fed: Empire State Manufacturing Survey

The headline general business conditions index rose thirteen points to 27.5, a multiyear high. The new orders index moved up three points to 16.9, and the shipments index advanced two points to 27.1. ...

Employment indexes showed a slight increase in employment levels and hours worked. Indexes for the six-month outlook conveyed a high degree of optimism about future business conditions.
emphasis added
This is the first of the regional surveys for September.  The general business conditions index was well above the consensus forecast of a reading of 16.0, and indicates solid expansion (above zero suggests expansion).  The index is at the highest level since 2009.