A report released by the Federal Reserve Bank of New York on Wednesday unexpectedly showed a moderate increase in New York manufacturing activity in the month of April.
The New York Fed said its general business conditions index surged to a positive 11.0 in April from a negative 0.2 in March, with a positive reading indicating growth. Economists had expected the index to dip to a negative 2.0.
The unexpected increase by the headline index partly reflected a significant turnaround by shipments, as the shipments index spiked to a positive 20.2 in April from a negative 6.9 in March.
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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.