New York Area Manufacturing Up Sharply in May

New York, NY, May 15, 2014 — Manufacturing in the New York region improved substantially in early May, according to the New York Fed.

After barely growing in April, the Empire state index surged to 19.0 in May, its highest level since mid-2010.

Economists called for a reading of 5.4 in May.

Readings above zero signal expansion.

The future business index jumped to 44 in May, its highest level in more than two years.