US Empire State manufacturing general business conditions rose to 17.4 in March, up from 12.1, above expectation of 14.5. Expectations for six months ahead rose 1.5, from 34.9 to 36.4.
More importantly, number of employees for six months ahead jumped from 14.8 to 16.6. Average employment work week for six months ahead rose from 14.3 to 201.
New York Fed said, “The index for future employment rose to its highest level in over ten years, suggesting that firms widely expect to increase employment in the months ahead.”
