The report from the New York Federal Reserve showed on Wednesday that manufacturing activity in the New York region expanded in April at a faster pace than in recent months.

According to the survey, NY Fed Empire State manufacturing index came in at 17.80 this month compared to an unrevised 10.10 in March. That was the highest reading since November 2018.

Economists had expected the index to come in at 8.50.

Anything below zero signals contraction.

According to the report, the new orders index increased two points to 9.7, indicating an increase in orders, and the shipments index rose eight points to 16.3, pointing to good increases in shipments. Meanwhile, delivery times held steady, and inventories moved slightly lower. The index for number of employees fell seven points to 4.7, a level indicating that employment increased only to a small degree. On the price front, the prices paid index was little changed at 26.2, as was the prices received index at 12.4.