Manufacturing activity in the New York region slowed in April, the Federal Reserve Bank of New York said April 15.
The “Empire State Index,” generally the first economic indicator in a given month, fell to a 1.29 reading from 5.61 in March, the regional Fed said.
Economists had called for a reading of 8 in April, Bloomberg News reported. Readings greater than zero show expansion.
Manufacturing is one of trucking’s largest and most important customers.