The amounts: If you want to know how busy factories are in New York, the Empire State business conditions index went up 43.1 points in November to 31.2, according to the area Fed bank on Friday. There has been no level this high in almost three years.
A poll by the Wall Street Journal found that economists had been expecting a flat reading.
Any number above zero means things are getting better.
Important facts: In November, the index for new sales went up 38.2 points to 28. The measure for shipments went up by 35.2 points to 32.5.
In the month, the number of unfulfilled sales dropped by 8.1 points to -10.2.
The measure of future capital spending fell 5.5 points to 33.2 in the month, which was a negative sign.
All in all, the factory sector has been flat for two years, while the services sector has been the engine of economic growth.
As early as possible, the Empire State index is a good way to tell how healthy the manufacturing industry is.
For the past seven months, the ISM factory index has been in the “contraction” range.
