New York Fed Factory Index Soars on Surge of New Orders

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Factory activity in New York unexpectedly surged in April, a survey from the Federal Reserve Bank of New York showed Monday.

35.4 points in April to 10.8, the first positive score for the index in five months. Readings above zero indicate improving conditions.

The index for new orders, a critical measure of demand, jumped 46.8 points to 25.1 in April. The shipments index rose 37.3 points to 23.9.

 

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