US Empire State Manufacturing index rose to 17.0 in September, up from 3.7, beat expectation of 6.2. Looking at some details, new orders rose 8.8 pts to 7.1. Shipments rose 7.4 pts to 14.1. Price paid rose 9.2 pts to 25.2. Prices received rose 1.8 pts to 4.7. Number of employees rose 0.2 pts to 2.6. Average employee workweek jumped sharply by 13.5pts to 6.7. The worweek number was also the first positive reading since the pandemic began. Future business conditions also rose 6 pts to 40.3, suggesting some optimism ahead.
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