Manufacturing activity in the New York region contracted in December for a fifth straight month, the Federal Reserve Bank of New York said Monday.
The “Empire State Index,” generally the first economic indicator in a given month, was minus 8.1 after minus 5.2 in November, the regional Fed said.
Readings of less than zero indicate contraction.
The December reading was below economists’ forecasts of a minus 1 reading, Bloomberg reported.
Manufacturing is one of trucking’s largest and most important customers.