New York Empire State Manufacturing Index Jumps to 25.5 in October, Beating Forecasts

Manufacturing activity in New York State expanded sharply in October, with the Empire State general business conditions index surging 18 points to 25.5, its highest level since December 2021. The reading significantly exceeded consensus market expectations of roughly 10.25 to 10.3, up from 7.6 in September. Strong gains in new orders and shipments drove the headline figure, even as future optimism softened. Persistent price pressures remained evident, with the prices received index rising to 30.6 alongside worsening supply availability.