New York Manufacturing Index Unexpectedly Turns Positive In September

(RTTNews) - The Federal Reserve Bank of New York released a report on Monday showing regional manufacturing grew for the first time in nearly a year in the month of September.

The New York Fed said its general business conditions index surged to a positive 11.5 in September from a negative 4.7 in August, with a positive reading indicating growth. Economists had expected the index to inch up to a negative 3.9.

The report also said firms grew more optimistic that conditions would improve in the months ahead, as the index for future business activity climbed to 30.6 in September from 22.9 in August.