New York Manufacturing Shows Surprising Strength

New York, NY, Dec. 15, 2011 -- Manufacturing in the New York area in December was much stronger than anticipated.

The Empire State Manufacturing Survey rose to 9.53 in December from 0.61 in November.

Analysts expected Empire Manufacturing to rise to 3.00.

The general business conditions index rose nine points to 9.5, its highest level since May. The new orders index climbed above zero, to 5.1, and the shipments index advanced eleven points to 20.9.

Input price increases steepened, with the prices paid index rising six points to 24.4.

Selling prices increased only modestly, with the prices received index inching down to 3.5.

Employment indexes were mixed, showing a slight increase in employment levels but a slight decrease in the length of the average workweek.