Empire State Manufacturing Survey: Headline general business conditions index fell 11 points

"Business activity continued to grow strongly in New York State, according to firms responding to the November 2017 Empire State Manufacturing Survey," the Federal Reserve Bank of New York said in its recent report.

Key takeaways

Though the headline general business conditions index fell eleven points from the multiyear high it reached last month, it remained firmly in positive territory at 19.4.

The new orders index climbed to 20.7 and the shipments index came in at 18.4—readings that pointed to ongoing solid gains in orders and shipments.

Delivery times were slightly shorter than last month, and inventory levels edged higher.

Labor market indicators reflected moderate employment gains and little change in hours worked.

Both input prices and selling prices rose at a pace that was little changed from last month.

Indexes assessing the six-month outlook suggested that firms were very optimistic about future business conditions.