The Federal Reserve Bank of New York’s Empire State Manufacturing Survey showed NY manufacturing growth jump to its highest level in three years. The business conditions index was up +8.9 points to 26.3 led by increases in New Orders (+17.8 to 26.9 a record), Unfilled Orders (+17.2 to 21.2) and Delivery Times (+16.7 to 28.1). The index for future business conditions was up +3.4 to 39.8 with Number of Employees reaching an all-time high of 40.1 signaling increasing workforce pressure as almost half of respondents reported plans to add employees soon. See the full report here.
