US Empire State Manufacturing Business Conditions rose notably to -0.2 in May, up from -48.5. Looking at some details, new orders jumped form -42.4 to -0.6. Shipments jumped from -39.0 to 3.3. Delivery time rose from -4.1 to 1.3. Price paid rose from 4.1 to 16.9. Price received rose from -7.4 to -0.6. Number of employments rose form -6.1 to -3.5, but stayed negative. Average employee workweek rose form -21.6 to -12.0, also negative.
Six month ahead expectations improved drastically from 29.1 to 56.5, hitting the highest level in more than a decade. Six-month employment also rose from 10.4 to 19.0, hitting highest level in many months.
