Investing.com - The Empire State manufacturing index rose in March, to a reading of 22.5 from 13.10 in the previous month, the New York Fed reported on Thursday.
The consensus forecast had been for a reading of 15.2.
Any reading above zero indicates improving conditions, below indicates worsening conditions.
The new orders index rose to 16.8 and the shipments index advanced to 27.0—readings that pointed to strong growth in orders and shipments.
After reaching a multiyear high last month, the prices paid index moved up further, reflecting ongoing and widespread increases in input prices.
The prices received index held steady and suggested moderate selling price increases. Firms remained optimistic about future business conditions, though less so than last month, and capital spending plans remained strong.