"Business activity grew at a robust pace in New York State, according to firms responding to the October 2017 Empire State Manufacturing Survey," the Federal Reserve Bank of New York announced on Monday.
Key takeaways:
- The headline general business conditions index climbed six points to 30.2, its highest level in three years.
- The new orders index came in at 18.0 and the shipments index rose eleven points to 27.5—readings that pointed to ongoing solid gains in orders and shipments.
- Delivery times were slightly longer, and inventory levels decreased.
- Labor market indicators reflected a strong increase in employment and little change in hours worked.
- Both input prices and selling prices rose at a somewhat slower pace than last month.
- Indexes assessing the six-month outlook suggested that firms remained optimistic about future conditions.
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