N.Y. Business Conditions Setting a 'Healthy Pace'

The Empire State Manufacturing Survey showed "conditions for New York manufacturers improved at a healthy pace in February," as the general business conditions index surged to 24.91 in the month from 15.92 in January, the Federal Reserve Bank of New York reported yesterday.

Economists expected the index would be 18.00.

The new orders index fell to 8.78 from 20.48, the shipments index slid to 15.14 from 21.07, and unfilled orders increased to 2.78 from 2.67, the Fed said.

Looking six months into the future, the general business conditions index decreased to 52.78 from 56.00 last month. The new orders index jumped to 55.56 from 52.00, the shipments index climbed to 55.56 from 54.67, and unfilled orders fell to 11.11 from 22.67.

The capital expenditures expectations index declined to 27.78 from 33.33. The technology spending index decreased to 12.50 from 13.33.

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