The New York Fed's Empire State general business
conditions index rose to 27.54 from August's 14.69. The
September reading is the highest since October 2009.
Economists polled by Reuters had expected a reading of 16.0 this
month. A reading above zero indicates expansion.
New orders rose to 16.86 from 14.14, while inventories continued
to shrink, although at a slower pace, registering a reading of
-7.61 versus August's -14.77.
The pace of growth in employment gauges slowed, with the index
for the number of employees down to 3.26 from 13.64, while the
average employee workweek index slipped to 3.26 from 7.95.
The index of business conditions six months ahead was little
changed, clocking in at 46.72 compared with 46.76 in August,
which had been the highest in 2-1/2 years.
The survey of manufacturing plants in the state is one of the
earliest monthly guideposts to U.S. factory conditions.
(Reporting by Dan Burns; Editing by Meredith Mazzilli)
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