Empire Manufacturing Index Rises Sharply

New York, NY, April 15, 2011 -- The Empire State manufacturing survey rose for a fifth straight month in April, as general business conditions rose four points to a reading of 21.7, the Federal Reserve Bank of New York said.

Economists had expected a decline to 15.5, down from 17.5 for March.

The new orders index for April jumped 17 points, to 22.3, and the shipments index rose 27 points to 28.3.

The indexes for both prices paid and prices received rose to their highest levels in more than a year.