Economic Buzz: New York Manufacturing Index Rebounds To 4.5 In November

16 Nov 2022 , 09:29 AM

New York manufacturing activity has seen a notable rebound in the month of November, the Federal Reserve Bank of New York revealed in a report. The New York Fed said its general business conditions index surged to a positive 4.5 in November from a negative 9.1 in October, with a positive reading indicating growth in regional manufacturing activity. The rebound by the headline index partly reflected a turnaround by shipments, with the shipments index climbing to a positive 8.0 in November from a negative 0.3 in October. The number of employees index also rose to 12.2 in November from 7.7 in October, indicating a faster pace of job growth. On the other hand, the new orders index slid to a negative 3.3 in November from a positive 3.7 in October, suggesting a slight decrease in new orders. The report also showed the prices paid index inched up to 50.5 in November from 48.6 in October, while the prices received index climbed to 27.2 from 22.9.Powered by Commodity Insights