November’s Empire State Manufacturing Survey indicates yet another month of expansion with an index reading of 10.2 (a reading above 0.0 indicates growth). The rate of growth, which had fallen sharply in October, rebounded in November. New Orders also rebounded to 9.1 after contracting in October as did Shipments, which were up over 10 points to 11.83. However the report as whole was mixed with contraction in Unfilled Orders, Delivery Time and Average Employee Workweek. Inventories and Prices Received were flat. Nevertheless, NYS manufacturers remain optimistic about the six month outlook as the Future Business Conditions Index came in at 47.6, up 6 points since last month and the highest reading in almost three years. See all the details here.
