Empire State Manufacturing Index Jumps To 24.9 In February

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Conditions for New York manufacturers improved at a healthy pace in February, according to a report released by the Federal Reserve Bank of New York on Tuesday, with the index of regional manufacturing activity rising by much more than anticipated.

The New York Fed said its index of activity in the manufacturing sector rose to 24.9 in February from 15.9 in January, with a positive reading indicating growth in the sector. Economists had been expecting a more modest increase by the index to a reading of 18.0.

Conditions for New York manufacturers improved at a healthy pace in February, according to a report released by the Federal Reserve Bank of New York on Tuesday, with the index of regional manufacturing activity rising by much more than anticipated. (Market News Provided by RTTNews)