Empire State manufacturing hits best level in eight months

Manufacturing activity in the New York Fed's jurisdiction unexpectedly improved in June, according to data released on Friday. The New York Fed's Empire State index rose to 25 from 20.1 in May, surpassing expectations for a reading of 18.8 and hitting the highest level since October. According to the survey, 38% of respondents said that conditions had improved over the month, while 13% said they had worsened. The new orders index was up five points to 21.3 and the shipments index rose four ...

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