The Empire State Manufacturing Survey showed a solid pickup in activity in November, with the General Business Conditions index rising +8 pts to 18.7, its strongest reading since late last year.

• New Orders jumped +12.2 pts to 15.9, indicating a clear rebound in demand after a softer October.

• Shipments increased +2.4 pts to 16.8, pointing to continued gains in output alongside stronger orders.

• Inventories rose +8.0 pts to 6.7, the first positive reading in several months, suggesting firms are rebuilding stock.

• Prices Paid declined -3.4 pts to 49.0, and Prices Received fell -3.2 pts to 24.0, showing slightly slower but still elevated cost and selling price increases.

• Employment edged up +0.4 pts to 6.6, and the Average Workweek rose +11.8 pts to 7.7, signaling modest hiring and longer hours worked.

• Delivery Times ticked up and supply availability worsened, consistent with mildly tighter supply conditions.

• Looking ahead, the Future General Business Conditions index fell to 19.1, indicating firms still expect improvement, though with less optimism than last month.