Manufacturing activity in the New York region expanded at a slower pace in August, the Federal Reserve Bank of New York said Aug.15.
The “Empire State Index,” generally the first economic indicator in a given month, fell to a 14.7 reading from a four-year high of 25.6 in July, the regional Fed said.
Economists had called for a reading of 20 in August, Bloomberg News reported. Readings greater than zero show expansion.
Manufacturing is one of trucking’s largest and most important customers.