EMPIRE STATE MANUFACTURING DATA SURGES

The New York Fed’s Empire State manufacturing survey surged to 12.51.

Consensus was for a reading of 3.50.

December was revised higher, to 2.22 from 0.98.

The index for expected number of employees rose to 20.7, and the future average workweek index climbed to 9.8.

The index for future general business conditions was little changed at 37.5, but the index for future new orders climbed nine points to 39.1.

The index for future prices paid fell three points to 45.1, and the index for future prices received fell to 23.2.

We’ve now been in positive territory — meaning manufacturing activity has been expanding — for about a year:

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