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NEW YORK AREA MANUFACTURING CRUSHES EXPECTATIONS

Sam RoJul 15, 2014, 18:01 IST

Jordan Strauss / Invision / AP

The July Empire Manufacturing report was much stronger than expected.

The headline index unexpectedly jumped to 25.60 in July from 19.28 in June.

Economists estimated the number would decline to 17.0.

"The Empire State survey has generally appeared consistent with the rebound in growth and rebuilding of inventories that we see for Q2: its average level of 13.2 was the highest since Q112," said UBS's Sam Coffin.

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