Empire State Manufacturing Surprises in November

Exceeding expectations, business activity in the state of New York improved in November, moving into positive territory for the first time in four months, according to the Empire State Manufacturing Survey.

The New York Fed’s Empire State headline general business conditions index — a gauge of manufacturing activity in the state — recovered by 13.6 points in November to a reading of 4.5. The reading came in better than the market expectation of -5. (Any reading below zero indicates deteriorating conditions.)

Manufacturing

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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