Empire State Index Rebounds To 10.2 In November

The Empire State manufacturing index, the first of the many regional manufacturing gauges to be released, rebounded a bit to 10.2 in November from 6.2 in October, the New York Fed said Monday. Economists polled by MarketWatch had expected a 10.5 reading, in the gauge where readings above zero indicate improving conditions. The index had stood at 27.5 in September, so the readings over the last two months indicate a downshift in activity, the New York Fed said. The new orders index returned to positive ground in November but unfilled orders, delivery times, and the average employee workweek remained in negative territory. On a more positive note, the index for expected general conditions index rose to 47.6, its highest level since January 2012.