"Business activity continued to grow strongly in New York State, according to firms responding to the October 2018 Empire State Manufacturing Survey," the Federal Reserve Bank of New York said on Monday.
Key highlights
- The headline general business conditions index rose two points to 21.1, pointing to a slightly faster pace of growth than in September.
- New orders and shipments both picked up noticeably.
- Delivery times continued to lengthen, while inventories held steady.
- Labor market indicators pointed to a modest increase in employment levels and no change in hours worked.
- Price indexes edged down but remained elevated, suggesting ongoing significant increases in both input prices and selling prices.
- Looking ahead, firms generally remained optimistic about the six-month outlook.
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