NY Fed: Business activity grew at a robust pace in New York State

"Business activity grew at a robust pace in New York State, according to firms responding to the October 2017 Empire State Manufacturing Survey," the Federal Reserve Bank of New York announced on Monday.

Key takeaways:

• The headline general business conditions index climbed six points to 30.2, its highest level in three years.
• The new orders index came in at 18.0 and the shipments index rose eleven points to 27.5—readings that pointed to ongoing solid gains in orders and shipments.
• Delivery times were slightly longer, and inventory levels decreased.
• Labor market indicators reflected a strong increase in employment and little change in hours worked.
• Both input prices and selling prices rose at a somewhat slower pace than last month.
• Indexes assessing the six-month outlook suggested that firms remained optimistic about future conditions.