US Empire State Manufacturing business conditions rose to 12.1 in February, up from 3.5, well above expectation of 5.5. That’s also the highest level since July 2020. 32% of respondents reported that conditions had improved, while 20% said conditions had worsened.
New orders rose 4.2 pts to 10.8. Shipments dropped -3.3 to 4.0. Prices paid jumped 12.3 pts to 57.8. Prices received also rose 8.2 to 15.2. Number of employees edged up by 0.9 to 12.1 Average employee workweek also rose slightly by 2.7 to 9.0.
