Empire State factory index jumps past forecasts in September

Factory sector conditions in the Federal Reserve Bank of New York's jurisdiction improved sharply in September, the results of a survey revealed.

The so-called 'Empire State' index jumped from an August reading of -19.0 to 1.9.

Economists had penciled in a reading of -10.0.

A key gauge for new orders fared even better, rising from -19.9 to 5.1.

Similarly, the sub-index tracking shipments surged from -12.3 to 12.4..

The sub-index for prices paid edged up from 25.2 to 25.8.

-- More to follow --