Manufacturing activity in New York rose in March to its highest level since July 2020, and prices paid to suppliers are at the highest level in the last 10 years, according to the monthly Empire State indicator of the Federal Reserve published Monday.
The index that measures the general conditions of the activity was established at 17.4 points (+5.3 points compared to February), more than the 15 points expected by analysts. The US central bank noted in its statement that “business activity in New York State has grown steadily.”
An index greater than zero indicates that the activity continues to grow.
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