WASHINGTON (dpa-AFX) - A report released by the Federal Reserve Bank of New York on Monday showed an acceleration in the pace of growth in New York manufacturing activity in the month of March.
The New York Fed said its general business conditions index climbed to 17.4 in March from 12.1 in February, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to rise to 14.5
Looking ahead, the New York Fed said firms remained optimistic that conditions would improve over the next six months, anticipating significant increases in employment.
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