WASHINGTON (dpa-AFX) - The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August.
The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.
With the unexpected increase, the general business conditions index reached its highest level since hitting 20.2 in November 2024.
Looking ahead, the New York Fed said firms continue to expect conditions to improve in the months ahead, although optimism has diminished compared to last month.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
