Manufacturing Activity Cools in New York Region
Manufacturing activity in the New York region cooled in October, the Federal Reserve Bank of New York said.
The “Empire State Index,” generally the first economic indicator in a given month, declined to a 6.2 reading from an almost five-year high of 27.5 in September, the regional Fed said Oct. 16
The decrease from September was the biggest since November 2010, Bloomberg News reported. Readings greater than zero show expansion.
Despite the slowdown, manufacturers in New York have an optimistic outlook as a measure of expected business conditions in six months declined but remained healthy at 41.7, down from 46.7, the Associated Press reported.
Manufacturing is one of trucking’s largest and most important customers.
