Factory activity surged across New York State in November, with a key Federal Reserve survey showing unexpected strength as business conditions hit their best level since last November and manufacturers expressed confidence about the months ahead.
The Empire State Manufacturing Survey’s headline general business conditions index surged to 18.7 from 10.7 in October, a substantial eight-point jump that marked the fourth consecutive positive reading and the strongest level in a year.
The gains were broad-based. The new orders index climbed sharply, up 12.2 points to 15.9, while the shipments index increased 2.4 points to 16.8, pointing to robust…
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