Economic Report: Empire State manufacturing index climbs to best level in eight months in June

The numbers: The Empire State manufacturing survey rose 4.9 points in June to a reading of 25, the highest since October, the New York Fed said Friday.

Any reading of the diffusion index above zero indicates improving conditions. Economists polled by Econoday expected a reading of 19.1.

What happened: There were solid gains for both new orders and shipments, and the employment index jumped 10.3 points to a reading of 19. Though down slightly on the month, the prices paid index was still a very high 52.7.

The Empire State reading was at odds with the data released Friday showing a downturn in industrial production.

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