Manufacturing activity in the New York region expanded in February for the first time since August, the Federal Reserve Bank of New York said Friday.
The Empire State Index, generally the first economic indicator in a given month, had a reading of 10, following a minus 7.8 in January, the regional Fed said. Readings of less than zero indicate contraction.
The index was above economists’ forecasts of a minus 2 reading, Bloomberg News reported.
Manufacturing is one of trucking’s largest and most important customers.