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Empire State Manufacturing Survey Shows Expansion

Federal Reserve Bank of New York (01/15/15)

Business activity in January continued to expand for New York manufacturers, according to the Empire State Manufacturing Survey. The headline general business conditions index climbed 11 points from December to 10.0 in January. This month’s survey also showed modest growth in new orders and shipments. Labor market conditions were mixed, with the index for expected number of employees rising 11 points to 31.6—its highest level in nearly three years—and the average workweek index remaining negative at -8.4. As has been the case for much of the past year, indexes for the six-month outlook pointed to widespread optimism about future conditions.