New York manufacturing index hits one-year high, but optimism dips

(Sharecast News) - Manufacturing activity in the New York region unexpectedly rose to its highest level in a year in November as new orders surged. The NY Empire State manufacturing index, a monthly survey of manufacturers across New York State conducted by the region's Federal Reserve bank, found that its general business conditions index rose eight points to 18.7.

This was the fourth positive reading over the past five months and the highest reading since November 2024, surpassing the consensus forecast of a drop to 6.0.

The new orders index jumped from 3.7 to 15.9 in November, while the shipments index rose from 14.4 to 16.8. Meanwhile, after three straight months of negative readings, the inventories index rose from -1.0 to 6.7.

The index for employment levels edged higher, from 6.2 to 6.6, while the gauge tracking the average workweek rose to a multi-year high of 7.7.

On the downside, the index tracking future general business conditions slumped from 30.3 to 19.1, as firms expect "significant price increases".