The manufacturing index for New York State is recovering and defying expectations, recording its highest level since December 2021.

The data released by the Federal Reserve Bank of New York on Friday showed that the manufacturing index in New York has experienced a strong recovery during November, with the index reading coming in much better than market expectations, after the sector witnessed significant growth to record its highest level since December 2021.

According to the data, the manufacturing index in New York recorded strong growth at 31.2 points, which was much better than market expectations that anticipated a contraction of the index to 0.3 points, after the previous reading of the index had recorded growth at 11.9 points during October.

These data are one of the main indicators of economic health, as companies react quickly to business conditions, and a change in companies' outlook can be an early signal of future economic activity such as spending, employment, and investment. This index is measured by conducting a survey of approximately 200 manufacturers in New York, where participants are asked to assess the level of business conditions.