(CercleFinance.com) – The growth of manufacturing activity in the New York area accelerated markedly in March, shows the monthly survey of the regional branch of the Federal Reserve released Thursday.
The ‘Empire State’ index rose nine points to 26.3 last month, a new high since the start of the pandemic in the United States over a year ago.
Economists were forecasting an average figure of 18.8.
The new orders component rose sharply to 26.9 against 9.1 the previous month, while that linked to the number of employees reached 13.9 in March, against 9.4 in February.
The business conditions sub-index rose from 17.4 to 26.3.
As a reminder, any index greater than zero reflects an expansion of the activity.
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