NY Manufacturing Takes a Great Leap Forward

Photo: Powerflow, Inc., Buffalo, NY

Photo: Powerflow, Inc., Buffalo, NY

The NY Federal Reserve’s Empire State Manufacturing Survey for May jumped 7.7 points to 17.8, its highest level in six months (a reading above 0.0 indicates growth), led by Shipments (up 7.7 points to 16.3), Unfilled Orders (up 2.8 points to 2.1) and New Orders (up 2.2 points to 9.7).  The Forward Looking Indicator, which measures expectations six months into the future, followed suit increasing 18.2 points to 30.6 and signaling strong optimism about the future.  See the full report here.

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