Empire State Manufacturing Continues to Improve
NY Fed -- "The Empire State Manufacturing Survey indicates that conditions for New York manufacturers continued to improve in March. The general business conditions index inched up 2 points, to 17.5 (see chart above). The new orders and shipments indexes fell but remained above zero, while the unfilled orders index rose above zero for the first time in a year. Price indexes continued to climb, suggesting that price increases had accelerated. Employment indexes were positive and above their February levels, indicating that employment had expanded. Future indexes were little changed, as respondents continued to be strongly optimistic about the six month outlook, although future price indexes were sharply higher."
MP: The ongoing expansion of manufacturing activity in New York supports the notion that America's manufacturing sector continues to be the "shining star of the U.S. economic recovery," registering ongoing gains in output and employment.