“The general business conditions index increased six points to 10.1, indicating growth picked up somewhat but remained fairly subdued,” the Federal Reserve Bank of New York said in its latest Empire State Manufacturing Survey.
Key takeaways from the press release
- Thirty-three percent of respondents reported that conditions had improved over the month, while 23 percent reported that conditions had worsened.
- The new orders index rose five points to 7.5, indicating orders picked up slightly.
- The prices paid index fell seven points to 27.3 and the prices received index declined four points to 14.0.
- The index for number of employees edged down two points to 11.9, pointing to ongoing employment gains.
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