New York Manufacturing Index Indicates Rebound In June
June 15 2017 - 5:54AM
RTTF2
After reporting a contraction in regional manufacturing activity
in the previous month, the Federal Reserve Bank of New York
released a report on Thursday showing a rebound in activity in the
month of June.
The New York Fed said its general business conditions index shot
up to 19.8 in June from a negative 1.0 in May, with a positive
reading indicating growth in regional manufacturing activity.
Economists had expected the index to rise to 4.0.
The bigger than expected increase by the headline index came
amid a rebound in new orders, as the new orders index jumped to
18.1 in June from a negative 4.4 in May.
The report also said the shipments index climbed to 22.3 in June
from 10.6 in May, with the increase indicating faster growth.
Meanwhile, the New York Fed said the number of employees index
dropped to 7.7 in June from 11.9 in the previous month.
The prices paid index also edged down to 20.0 in June from 20.9
in May, while the prices received index rose to 10.8 from 4.5.
Looking ahead, the New York Fed said the index for future
conditions inched up to 41.7 in June from 39.3 in the May.
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