A report released by the Federal Reserve Bank of New York on Tuesday showed a significant acceleration in the pace of growth in regional manufacturing activity in the month of September.
The New York Fed said its general [business][1] conditions index jumped to 17.0 in September from 3.7 in August, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to rise to 6.0.
Looking ahead, the New York Fed said firms remained optimistic that conditions would improve over the next six months.
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