Federal Reserve Bank of New York (11/17/14)
Business activity in November continued to expand for New York manufacturers, according to the Empire State Manufacturing Survey. The headline general business conditions index climbed four points to 10.2, indicating a pace of growth somewhat faster than October’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. Indexes for the six-month outlook were generally higher this month and conveyed a strong degree of optimism about future business conditions.