NY Fed: Headline general business conditions index held steady at 24.4

"Business activity continued to grow strongly in New York State, according to firms responding to the September 2017 Empire State Manufacturing Survey," the Federal Reserve Bank of New York said on Friday.

Key quotes:

  • The headline general business conditions index held steady at 24.4.
  • The new orders index rose four points to 24.9 and the shipments index climbed four points to 16.2, pointing to ongoing solid gains in orders and shipments.
  • Unfilled orders increased, and delivery times continued to lengthen.
  • Labor market indicators pointed to a modest increase in employment and hours worked.
  • Both input prices and selling prices rose at a faster pace than last month.
  • Indexes assessing the six-month outlook suggested that firms remained optimistic about future conditions.

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