Manufacturing activity in the New York region expanded at a slower pace in September, the Federal Reserve Bank of New York said Sept. 16.
The “Empire State Index,” generally the first economic indicator in a given month, declined to a 6.3 reading from 8.2 in August, the regional Fed said.
Readings greater than zero show expansion, while those less than zero indicate contraction.
Economists had forecast a reading of 9.1, Bloomberg News reported.
Manufacturing is one of trucking’s largest and most important customers.