NEW YORK (Dow Jones) – The value determined by the Federal Reserve Bank of New York index of general business activity in the manufacturing sector of the district rose in January to plus 11.92.
Dow Jones Newswires had forecast a level economists polled by plus 12.00. The previous month’s revised the New York Fed on Tuesday to plus 9.89 in after a value was reported by plus 10,57.
The component index for order intake rose in January to plus 12.39 (previous month: plus 2.03). The sub-index of employment rose to plus 8.42 (minus 3.41) and thus registered a sharp jump upward. For the prices obtained a value of plus 15.79 (plus 3.41) was reported.
Economists see the Empire State Manufacturing Survey, as well as the indicator of the Philadelphia Fed as relatively reliable precursor to the much-ISM index for the manufacturing sector in the United States. The index was first established in July 2001.
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