The Federal Reserve Bank of New York’s Empire State Manufacturing Survey indicated a dramatic reversal in manufacturing activity across the State. After contracting for 8 of the last 9 months, NYS manufacturing activity jumped over 35 points in April to 10.8 indicating growth for the first time since last November (a reading above 0.0 is consistent with expansion). New Orders (+46.8 to 25.1) and Shipments (+37.3 to 23.9) led the way, although the Future Business Conditions Index indicated that manufacturers expected little change over the next six months. See the full report here.
