Economic Report: Empire State index stays strong in March

An employee at the Justin Paul Inc. manufacturing facility inside the Brooklyn Navy Yard.

A gauge of New York-area manufacturing remained close to two-year high levels in March, according to data released Wednesday.

The Empire State manufacturing survey slipped to 16.4 in March, down only 2.3 points from 18.7 in February, the New York Fed said.

Economists had expected a 15.4 reading according to a survey by Econoday, in the gauge where readings above zero indicate improving conditions. This is the fifth consecutive positive reading in the index.

US March NY Empire State mftg index 16.4 vs 15.0 exp https://t.co/YKq1CsECLZpic.twitter.com/vJrG9xK4pZ

— Cauponium (@cauponium) March 15, 2017

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