NY Fed: Business conditions index climbed fifteen points to 25.2, highest level in nearly 3 years

"Business activity grew strongly in New York State, according to firms responding to the August 2017 Empire State Manufacturing Survey," the Federal Reserve Bank of New York said on Tuesday.

Key highlights:

• The headline general business conditions index climbed fifteen points to 25.2, its highest level in nearly three years
• The new orders index rose seven points to 20.6 and the shipments index edged up to 12.4, pointing to solid gains in orders and shipments
• After retreating for the preceding three months, the index for number of employees increased two points to 6.2, pointing to a modest rise in employment levels, and the average workweek index advanced to 10.9, indicating that the average workweek lengthened