Mumbai, Nov. 18 -- The Federal Reserve Bank of New York released a report on Monday showing its reading on regional manufacturing activity unexpectedly increased in the month of November.
The New York Fed said its general business conditions index jumped to 18.7 in November after surging to 10.7 in October, with a positive reading indicating growth.
With the unexpected advance, the general business conditions index reached its highest level since hitting 20.2 last November.
The unexpected increase by the headline index partly reflected a significant acceleration in the pace of new orders growth, as the new orders index shot up to 15.9 in November from 3.7 in October.
The shipments index also rose to 16.8 in November from 14.4 in October...