Empire State Manufacturing Index rose more than expected
The headline general business conditions index climbed eleven points to 10.0. Analysts were forecasting smaller increase to 5.3.This month’s survey also showed modest growth in new orders and shipments. Labor market conditions were mixed, with the index for number of employees rising several points to 13.7, while the average workweek index remained negative at -8.4.
Both the prices paid and prices received indexes came in at 12.6, indicating a continued modest increase in input prices and selling prices. As has been the case for much of the past year, indexes for the six-month outlook pointed to widespread optimism about future conditions.
Data did not have any major impact on the markets, with USD gaining few points. Euro is currently being traded at 1.17 handle, Sterling is few points above 1.5240 level, while Aussie is around 0.8250 area. Later today, Philly Fed Manufacturing Index figures will be released.
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