Two major business surveys from the Philadelphia and New York Federal Reserve districts point to a healthy climate of growth for American manufacturers. New York’s Empire State Manufacturing Survey for general business conditions posted an expected growth index reading of 12.9 points, up 8 points from January and its best level since May. New orders from manufacturers surged to 22.1, the highest since September 2017, and shipments rose to 18.9, the best since November 2018. A few days later, the Philadelphia survey showed an additional 20 point increase to 36.7, the highest indicator of manufacturing growth since February 2017. 

The indexes are percentage measures of companies expecting growth or contraction. The measures taken together show a manufacturing sector on the rebound in spite of a global market slowdown due to Coronavirus fears and production stagnation from major manufacturer Boeing. Read more HERE.