Manufacturing activity snapped back to life in the New York area this month as optimism for future activity hit its highest in almost 11 years.
The Empire State Manufacturing Survey posted a reading of -0.2 in June after hitting record lows in the previous two months. The gauge measures the percentage firms reporting expansion against those seeing contraction and is up 48.3 points from May. Economists surveyed by Dow Jones had expected a reading of -35.
