Empire State Manufacturing Index Rises To 21.1 In October
Editor's Note: Updating earlier story with more details from report.
(Kitco News) - The headline index in the New YorkFederal Reserve's Empire State manufacturing survey climbed to a reading of21.1 in October from 19.0 the prior month.
Going into the report, consensusexpectations compiled by various news organizations had been for the reading tobe roughly where it stood in September. Readings above zero in such diffusionindexes indicate economic expansion, and vice versa.
The index for new orders rose to22.5 in October from 16.5 in September, while the reading for shipments surgedto 26.3 from 14.3.
The readings for the inflationindexes pulled back. The one for prices paid eased to 42.0 from 46.3, while theone for prices received fell to 14.3 from 16.3
Likewise, the employment indexeswere not as strong as in September. The reading for number of employees fell to9.0 from 13.3, while the one for average employee work week fell to 0.2 from11.5.
By Allen Sykora
For Kitco News
Follow @AllenSykora
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