Manufacturing activity in the New York region expanded in March, for the second consecutive month, 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 9.2, following a 10 in February, the regional Fed said. Readings of less than zero indicate contraction.
The index was below economists’ forecasts of a reading of 10, Bloomberg News reported.
Manufacturing is one of trucking’s largest and most important customers.