New York State showed a strong recovery in manufacturing activity, which jumped 36.4 points in April, the local Fed branch announced on Friday.
According to a study by the Wall Street Journal, economists expected it to remain stable at -11.8 points in March, where it sank after the Russian invasion of Ukraine.
Any measurement above zero indicates an improvement in conditions, while with the rise of the index it reached 24.6 points.
Among other things, the index of new orders jumped by 36.3 points to 25.1 in April and the index of shipments increased by 41.9 points to 34.5.
Unfulfilled orders increased by 4.2 points to 17.3 in April, while delivery times decreased by 10.9 points to 21.8 points.
In addition, the index of paid prices recorded a high record at 86.4 points.
At the same time, however, there was a negative note, as producers’ optimism for the next six months fell sharply by 21 points to 15.2 points, recording its lowest level since the beginning of the pandemic.