New York manufacturing activity has picked up significantly in the month of May, according to a report released by the Federal Reserve Bank of New York on Wednesday.
The New York Fed said its general business conditions index jumped to 17.8 in May from 10.1 in April, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to drop to 8.5.
With the unexpected increase, the New York Fed's general business conditions index reached its highest level since November of 2018.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.