The New York Fed’s manufacturing index beat expectations in April

The manufacturing index, announced by the New York branch of the US Federal Reserve (Fed), came in at 10.8 in April, above expectations, reaching its highest value since July 2022.

The New York Fed Manufacturing Index report for April was released.

According to the report prepared as a result of the survey carried out on companies operating in the New York manufacturing sector, the manufacturing index rose to 10.8 with an increase of 35 points in April, and reached its highest value since July 2022. In this period, data exceeding expectations was forecast to take the value of minus 18.

The index, which points to growth in the manufacturing sector after a 4-month pause, registered at minus 24.6 in March.

The new orders index increased 47 points to 25.1 in April, while the shipments index increased 37 points to 23.9.

Optimism for the outlook for the next 6 months rose to 6.6.

A value above zero in the manufacturing index, which provides information on the outlook for the productive sector, indicates growth in the sector, while a value below zero indicates contraction. (AA)