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New York Fed: Manufacturing activity gets a boost

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New York Fed: Manufacturing activity gets a boost

New orders drive growth.

The June 2014 Empire State Manufacturing Survey, released today by the Federal Reserve Bank of New York,  indicates that business conditions continue to improve for New York manufacturers.

The general business conditions index rose to 19.28, compared with May’s 19.01. Readings over 0 indicate expansion.

Analysts had expected the index to rise to 15.0

The rise in overall manufacturing activity was driven largely by new orders, the index for which rose from 10.44 to 18.36.

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The inventories index improved to 9.68 from 2.2, which the index for the number of employees fell to 10.75 from 20.88. The latter reading suggests that while employment remains positive, employers are hiring at a slightly more sluggish rate.

For the full report, click here.

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