U.S. Empire State manufacturing index surged 16.2 points to 11.5 in September
U.S. Empire State manufacturing index surged 16.2 points to 11.5 in September, much stronger than expected, after bouncing 1.9 ticks to -4.7 in August. It is the highest print since April 2022. And it breaks a strong of contractionary readings since December, with the -43.7 the 2024 nadir. The employment component improved to -5.7 after edging up to -6.7 previously, and has not been in positive territory since October. The workweek jumped to 2.9 from -17.8, the highest since November 2022.New orders climbed to 9.4 following the drop to -7.9 previously. It is the best since April 2023. Prices paid were little changed at 23.2 from 23.4 with prices received dipping to 7.4 from 8.5.The 6-month index rose 7.7 points to 30.6 following the -2.9 point August slip to 22.9. The future employment gauge dipped to17.3 from 17.6. New orders jumped to 39.9 from 24.8.Prices paid rose to 44.2 from 37.2 and prices received slipped to 30.5 from 30.9