Empire Manufacturing crushes expectations

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Empire Manufacturing crushes expectations

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Empire manufacturing crushed expectations for the second consecutive month.

The New York Empire State Manufacturing index, a monthly survey of manufacturers in New York State prepared by the New York Fed, stood at 16.4 in March.

The current reading is a drop from the two-year high of 18.7 recorded in February, but comfortably above economists' expectation of 15.0.

New orders climbed to 21.3, "its highest in several years, pointing to a substantial increase in orders," the New York Fed noted. 

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March 15, 2017 at 12:42AM