NY Fed: Business activity grew at a robust pace in New York State

Eren Sengezer FXStreet

"Business activity grew at a robust pace in New York State, according to firms responding to the October 2017 Empire State Manufacturing Survey," the Federal Reserve Bank of New York announced on Monday.

Key takeaways:

The headline general business conditions index climbed six points to 30.2, its highest level in three years.
The new orders index came in at 18.0 and the shipments index rose eleven points to 27.5—readings that pointed to ongoing solid gains in orders and shipments.
Delivery times were slightly longer, and inventory levels decreased.
Labor market indicators reflected a strong increase in employment and little change in hours worked.
Both input prices and selling prices rose at a somewhat slower pace than last month.
Indexes assessing the six-month outlook suggested that firms remained optimistic about future conditions.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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