The NY Federal Reserve’s Empire State Manufacturing Survey indicates that NYS manufacturing activity grew “significantly” in September, the third month in a row of expansion. The survey registered 17.0, up 13.3 points from last month (a reading above 0.0 is consistent with expansion). New Orders led the way, moving from contraction in August to growth with an increase of 8.8 points to 7.1. With the exception of Unfilled Orders and Inventories, all indices were in positive territory for September. The Future Outlook also improved by 6.0 points to 40.3, indicating that manufacturers are more optimistic about conditions six months from now. See the full report here.
