New York Manufacturing Activity Picks Up Considerably In July

India, July 15 -- A report released by the Federal Reserve Bank of New York on Wednesday showed regional manufacturing activity has picked up considerably in the month of July.

The New York Fed said its general business conditions index jumped to 15.6 in July from 5.7 in June, with a positive reading indicating growth. Economists had expected the index to climb to 8.6.

The sharp increase by the headline index partly reflected a substantial acceleration in the pace of growth in new orders, as the new orders index spiked to 22.2 in July from 3.5 in June.

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Published by HT Digital Content Services with permission from RTT News....