US: NY Empire State Manufacturing Index jumps to 12.9 in February vs. 5 expected
- Manufacturing activity in NY area expands in February.
- US Dollar Index extends rally on upbeat data.
The General Business Conditions Index of the Federal Reserve Bank of New York's Empire State Manufacturing Survey improved to 12.9 in February from 4.8 in January and beat the market expectation of 5.
"The new orders index shot up 16 points to 22.1, and the shipments index climbed to 18.9," the publication read. "Optimism about the six-month outlook continued to be somewhat subdued, and capital spending plans remained firm."
The upbeat reading helped the greenback preserve its strength against its rivals. As of writing, the US Dollar Index was at its highest level since early October at 99.34, adding 0.2% on the day.