Empire State index picks up in August
Manufacturing sector conditions in the Federal Reserve Bank of New York's jurisdiction picked up in August.
The so-called Empire State index rose from a reading of 4.3 for July to 4.8 in August (consensus: 2.2) on the back of improving trends for new orders and shipments.
A sub-index tracking new orders increased from a reading of -1.5 for July to 6.7 in August while that covering shipments rose from 7.2 to 9.3.
Another gauge linked to inventory levels meanwhile jumped from -10.9 to 5.8 and that for hiring from -9.6 to -1.6, although work weeks grew shorter.