New York Factory Index Expands for Eighth Month

Manufacturing activity in the New York region declined but showed expansion for the eighth straight month in March, the Federal Reserve Bank of New York said Monday.

The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, fell to a 22.9 reading from 24.9 in February, the regional Fed said.

Readings above zero indicate expansion, while below that shows contraction.

The index was higher than economists’ forecasts of a 22 reading, Bloomberg reported.

Manufacturing is one of trucking’s largest and most important customers.