New York Manufacturing Stronger Than Expected

New York, NY, Jan. 17, 2012 -- Manufacturing activity in the New York area expanded at the fastest rate in nine months in January, according to the New York Federal Reserve Bank.

The bank’s Empire State Manufacturing index rose to 13.5 in January from a revised 8.2 in December. The index has been on a strong upward trend after remaining stuck below zero from June through October.

Economists were expecting the index to rise to 11.3 from the initial December reading of 9.5.

A reading of expected conditions in the next six months climbed sharply in January to 54.9, its highest reading in a year.

The new orders index rose to 13.7 in January from 6.0 in December.