July N.Y. Manufacturing Index Rises More Than Expected

anufacturing in New York state rose for the second straight month in July, according to a monthly survey by the Federal Reserve Bank of New York released Friday.

The so-called Empire State index rose to 23.9, from 10.5 in June. In May the index had a reading of negative 11.1.

Economists’ had forecast a decline to 10 in July, Bloomberg reported.

Manufacturing is one of trucking’s largest and most important customers. Readings above zero indicate expansion, and until May's reading the survey had shown growth since May 2003.

The July new orders index rose to 19.2, the highest level since January.

he index of New York manufacturers expecting to hire more workers over the next six months rose to 23.9, from 14.7 in June.