May’s Empire State index surged to 19.6, exceeding the 7.5 estimate and signaling stronger regional factory activity.
The New York Fed’s manufacturing index climbed to 19.6 in May, up from April’s 11.0 and well above the 7.5 consensus forecast. The rise points to a sharper rebound in regional industrial activity after a softer prior month.
April’s reading stood at 11.0, following a period of mixed regional data. Economists had anticipated a modest gain to 7.5, making the May print a notable upside surprise.
BTC briefly touched $82k amid broader market moves, though no direct link to the manufacturing data was cited.