New York manufacturing activity has seen a notable turnaround in the month of July, according to a report released by the Federal Reserve Bank of New York on Tuesday.
The New York Fed said its general business conditions index surged to a positive 5.5 in July from a negative 16.0 in June, with a positive reading indicating growth. Economists had expected the index to rise to a negative 10.0.
With the much bigger than expected increase, the general business conditions index returned to positive territory for the first time since February.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.