Manufacturing Improves in New York Area

New York, NY, Feb. 15, 2013 -- The February Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved for the first time since last summer.

The general business conditions index rose into positive territory, advancing eighteen points to 10.0. The new orders index also rose sharply, climbing twenty points to 13.3, and the shipments index increased to 13.1.

The prices paid index pointed to a continued acceleration in selling prices, and the prices received index, while positive, inched lower.

The index for number of employees rose for a third consecutive month and, at 8.1, registered its first positive reading since September.