Empire State Manufacturing Survey Climbs Higher in November, Beating Forecast

A factory worker at a New York manufacturing plant. (Photo: Reuters)

The New York Federal Reserve Empire State Manufacturing Survey rose from 21.1 in October to 23.3 in November, easily beating the forecast.

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Worth noting, firms reported only a moderate level of optimism about the six-month outlook.

The index for future business conditions rose five points to 33.6. The indexes for future delivery times and future inventories both climbed above zero, suggesting that businesses expect longer delivery times and higher inventories.