According to the report prepared as a result of the survey conducted with the companies operating in the manufacturing sector in New York, the manufacturing index rose by more than 35 points to 10.8 in April. This was the highest level on record since July. A value above zero in the index indicates growth in the sector.
The median estimate of economists surveyed by Bloomberg was minus 18. This recovery increased the expectations that the permanent weakening in the sector is now over.
Demand has also recovered. The orders index rose from 25.1 to 46.8, hitting a one-year high. The shipping index also rose 37 points.
The employment index, on the other hand, continued to decline in the third month. Companies were found to be more optimistic about business conditions.