The Index of Manufacturing Activity in the New York Region, known as Manufacturing Empire posted an advance in February from January’s -0.7 to 3.1. The data was below the market consensus which was for a higher bounce to 12.15.
The price paid index remained at 76.6 and the price received index rose to a record 54.1; which, according to the report, reflects that the substantial increase in both input and sales prices continues.
The report indicates that going forward “while firms expect conditions to improve in the next six months, optimism fell to the lowest level since mid-2020.”
Along with the Empire, the wholesale inflation data for January was released, showing figures above expectations. The dollar it rose modestly at first, but then weakened. The impact of the data was however limited.
Source: Fx Street
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