New York Manufacturing Activity Rebounds in November, Defying Expectations
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The New York Fed’s Empire State business conditions index rose to 9.1 in November, the highest level since April.
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The index had been expected to come in at -3, indicating deteriorating conditions.
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The new orders index slipped to -4.9, while the index for unfilled orders fell to -23.2.
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The shipments index rose to 10 in November.
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The improvement may rekindle talk of stability in the manufacturing sector after weak ISM data in October.