New York Fed’s regional factory gauge produces first positive reading since July
The numbers: The New York Federal Reserve’s Empire State business conditions index, a gauge of manufacturing activity in the state, rose 13.6 points to 4.5 in November, the regional Fed bank said Tuesday. That’s the first positive reading since July.
Big picture: The Empire State index is the first of several regional manufacturing gauges to be released. Economists use the data to get a gauge on the health of the manufacturing sector.
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