US empire manufacturing index for September 24.4 vs 18.0 estimate

The US empire manufacturing index for the month of September showed a dip to 24.4 from 25.2 last month but that was better than expectations at 18.0.

• Employment index 10.6 vs 6.2 last month
• New orders 24.9 vs 20.6 last month
• Prices paid 35.8 vs 31.0 last month
• 6 month business conditions 39.3 vs 45.2 last month

Overall a better than expected report despite the dip. The index remains toward the high end of the longer term range (see chart below).