Economists estimate this regional activity index jumped to 5.00 from 1.52 in October.
"We look for a modest uptick in the November Empire State manufacturing index to 3.0 after an October print of 1.5," said Barclays' U.S. economics team. "This would be consistent with our expectations of an improvement in manufacturing activity in the coming months, but would leave the index below the levels seen in national measures of manufacturing activity, such as the ISM."