RTTNews - Conditions for New York manufacturers improved for the first time in well over a year in the month of August, according to a report released by the Federal Reserve Bank of New York on Monday, with the index of activity in the sector coming in well above expectations.

The New York Fed said its general business conditions index rose to 12.1 in August from a negative 0.6 in July, with a positive reading indicating an expansion in the manufacturing sector. Economists had been expecting the index to increase more modestly to 3.0.

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