The general business index in the Empire State manufacturing survey jumped to a reading of 18.7 this month from 6.5 in January, the New York Federal Reserve said. Gold eased after this and several other major economic reports.
The reading was the highest in more than two years. Going into the report, consensus expectations compiled by various news organizations had been for a reading of 7.0 to 7.5.
via Kitco
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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