New York Manufacturing Index Gains in November

anufacturing growth in New York state rose in November, according to a monthly survey by the Federal Reserve Bank of New York released on Tuesday.

The New York Fed’s so-called Empire State index rose to 22.8 from 12.1 in October. Readings above zero indicate expansion.

The reading was greater than the 15.5 level predicted by economists, Bloomberg reported. In February 2004, the index reached a record high of 39.6.

A measure of optimism for the next six months rose to 46.9 in November, from 32.6 in October, while the survey’s new orders index rose to 25.9 from 24.9. Unfilled orders rose to 15.1 from 0.4.