The Empire State manufacturing index unexpectedly increased to 21.7 in April from 17.5 in March, indicating New York manufacturing activity expanded for a fifth straight month and at the fastest pace since April 2010, according to the latest Empire State manufacturing survey released by the Federal Reserve Bank of New York. The employment index increased to 23.1, the highest level since May 2004, from March’s 9.1. The new orders index jumped to 22.3 in April, a one-year high, from 5.8 in March.
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