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US Empire State manufacturing rose to 4.8

US Empire State Manufacturing general business conditions rose to 4.8 in January, up from 3.5, beat expectation of 4.1. Twenty-eight percent of respondents reported that conditions had improved over the month, while 23 percent reported that conditions had worsened. Business activity “edged somewhat higher”.

PPI rose 0.1% mom, 1.3% yoy in December, versus expectation of 0.2% mom, 1.2% yoy. PPI core rose 0.1% mom, 1.1% yoy, versus expectation of 0.2% mom, 1.4% yoy.

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