US: NY Empire State Manufacturing Index jumps to 12.9 in February vs. 5 expected

Manufacturing activity in NY area expands in February.
US Dollar Index extends rally on upbeat data.

Eren Sengezer FXStreet

The General Business Conditions Index of the Federal Reserve Bank of New York's Empire State Manufacturing Survey improved to 12.9 in February from 4.8 in January and beat the market expectation of 5.

"The new orders index shot up 16 points to 22.1, and the shipments index climbed to 18.9," the publication read. "Optimism about the six-month outlook continued to be somewhat subdued, and capital spending plans remained firm."

USD reaction

The upbeat reading helped the greenback preserve its strength against its rivals. As of writing, the US Dollar Index was at its highest level since early October at 99.34, adding 0.2% on the day.

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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