India, Oct. 15 -- New York manufacturing activity rose sharply in the month of October, according to a report released by the Federal Reserve Bank of New York on Thursday.
The New York Fed said its general business conditions index surged to 25.5 in October from 7.6 in September, with a positive reading indicating growth. Economists had expected the index to rise to 10.3.
With the much bigger-than-expected increase, the index reached its highest level since hitting 34.4 in December of 2021.
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