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New York Fed Manufacturing Index Jumps to 19.01 in May

Dow Jones Business News (05/15/14) Kathleen Madigan

New York’s business conditions index rose to 19.01 in May from 1.29 in April, according to the Federal Reserve Bank of New York’s Empire State Manufacturing Survey. The reading was the highest seen since mid-2010 and supports the belief that the economy may improve this quarter. A reading above zero indicates expansion.

Meanwhile, the employment index increased to 20.88 in May from 8.16 in April, while the workweek index rose to 2.20 from 2.04.