Highlights of the Empire State Fed manufacturing index
- Highest since May 2019
- Prior was +4.8
- New orders 22.1 in February versus 6.6 January
- Prices paid 25.0 in February versus 31.5 in January
- Employment 6.6 in February versus 9.0 in January
- Shipments a 18.9 in February versus 8.6 in January
- Average employee workweek -1.0 versus +1.3 in January
- Unfilled orders +4.5 versus -2.7 in January
- Delivery time +8.3 versus -2.7 in January
- inventories +12.9 versus -0.7 in January
- Six-month business conditions 22.9 vs 23.6 in January
This is a pleasant surprise and it has given the US dollar a lift, in particular against the moribund euro. USD/CAD is also stronger after Canadian manufacturing sales missed estimates.