FXstreet.com (Barcelona) - Manufacturing activity in the New York administrative district has boomed from September to October, according to the NY Fed's Empire Manufacturing index, which jumped 14 points in a month.
The Business Conditions index has surged to 28.75 points in October from 14.75 points in September, a shocking high reading if we take in account that the market analysts expected a mild decline to a level around 13.25.
New orders sub index has grown to 24.97 from 13.56 in September, and shipments have increased to 28.59 in October from 5.09 in September. Prices paid index has edged up to 36.05 from 35.11 in September, while prices received increased substantially higher to 15.12 from 11.70 on the previous month.
Employment indexes have also increased in October, with the number of employees index growing to 20.51 from 18.22, and the average workweek index up to 23.26, the highest level on the year, from 9.57 in September.