New York Fed October Manufacturing Index: Showed a Rapid Increase

New York Fed Manufacturing Index Report Released

The New York Federal Reserve has published the manufacturing index report for October. According to the surveys, the condition of firms operating in the manufacturing sector in New York has shown significant improvement.

19.4 Points Increase in October

In October, the manufacturing index increased by 19.4 points to 10.7. Market expectations were that the index would be around -1.8 during this period. In September, this value was recorded at -8.7.

Improvement in New Orders and Shipments Indices

The new orders index rose by 23.3 points to 3.7 in October, while the shipments index increased by 31.7 points to 14.4. These figures are important indicators supporting the positive developments in the manufacturing sector.

Optimism in the Outlook for the Next Six Months

Expectations of companies for the next six months have also improved; during this period, the manufacturing index has increased by 15.5 points to 30.3. A positive value for the manufacturing index indicates growth in the sector.