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Manufacturing in New York expands

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Manufacturing in New York expands

Upbeat report from New York Fed; input inflation declines.

The Federal Reserve Bank of New York reported today that business activity expanded at a robust pace for New York manufacturers in September.

"Indexes for the six-month outlook conveyed a high degree of optimism about future business conditions."

The headline general business conditions index rose thirteen points to 27.5, a multiyear high. The new orders index moved up three points to 16.9, and the shipments index advanced two points to 27.1.

The unfilled orders index fell three points to -10.9. The prices paid index declined three points to 23.9, indicating a slower pace of input price increases, while the prices received index climbed nine points to 17.4, suggesting a pickup in the pace of selling price increases.

Employment indexes showed a slight increase in employment levels and hours worked. Indexes for the six-month outlook conveyed a high degree of optimism about future business conditions.

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