New York Manufacturing Index Declines in October

anufacturing growth in New York state declined in October, according to a monthly survey by the Federal Reserve Bank of New York released Monday.

The Fed’s so-called Empire State index fell to 12.1 from 15.6 in September. Readings above zero indicate expansion.

The reading was less than the 19 level that economists had forecast, Bloomberg reported.

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

The gauge of prices paid for materials jumped to 57.3, the highest of the year. That followed a 53.9 reading in September.

gauge of prices manufacturers received rose to 15.2 following a 10.1 reading in September. An index of prices manufacturers expect to pay six months from now fell to 34.4 from 37.1.