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New York state manufacturing index rises in January: NY Fed

[January 15, 2015] NEW YORK (Reuters) - Manufacturing activity in New York state expanded in January following a slip the previous month, a New York Federal Reserve survey showed on Thursday.

The New York Fed's Empire State general business conditions index rose in January to 9.95 from December's revised -1.23 reading, which was its first negative mark since January 2013.

Economists polled by Reuters had expected a reading of 5.0 this month. A reading above zero indicates expansion.

The new orders index rose to 6.09 from a revised 0.39 in December, while prices paid rose to 12.63 from 10.42 in the prior month.

The pace of growth in employment increased, with the index for the number of employees up to 13.68 in January from 8.33 last month.

The index of business conditions six months ahead rose to 48.35 from a revised 39.31.

The survey of manufacturing plants in the state is one of the earliest monthly guideposts to U.S. factory conditions.

(Reporting by Rodrigo Campos; Editing by Meredith Mazzilli)

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