(NY Fed) The index gauging the general business conditions in the New York State manufacturing sector rose by thirty-six points in April to 24.6.
The increase in manufacturing activity happens after three months of sluggishness. 41% of firms said activity improved over the month, against 15% which said conditions had worsened.
The index for new orders rose by thirty-six points to 25.1, while the gauge for shipments improved by forty-two points to 34.5.
Inventories increased modestly, while delivery times pointed to ongoing increases, with the index down by eleven points to 21.8.
Employment rose by small margins, with the index for the number of employees dropping by seven points to 7.3. The average workweek was at 10.0
Price pressures persisted, with the input costs up by thirteen points to a record high of 86.4. The prices received gauge fell by seven points from the record high in March.
Business still maintained low optimism, with the index for future conditions plunging by twenty-one points to 15.2. The index was the lowest since the early days of the pandemic.
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