By Joshua KirbyManufacturing activity in New York state recovered in September and businesses grew more optimistic about their prospects for the coming months. The Empire State Manufacturing Survey's general business conditions index improved to 1.9 from minus 19 a month earlier, data from the Federal Reserve Bank of New York showed Friday. These included new orders and shipments, which ticked positive from previous negative readings, as well unfilled orders and inventories, which rose while staying below zero. Employment cooled a little, as numbers of employees declined slightly in the state, suggesting a little easing in a tight labor market. Selling prices rose by seven points, while input prices were little changed, the survey showed.

Source: Wall Street Journal September 15, 2023 12:55 UTC