New York Manufacturing Index Expands

Manufacturing activity in the New York region expanded at a faster rate in February than January, the Federal Reserve Bank of New York said Tuesday.

The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, rose to a 15.4 reading, from 11.9 in January, the regional Fed said.

Readings above zero indicate expansion. The index last contracted in November, its only contraction in more than a year.

The February reading was slightly higher than economists’ forecasts of a 15.4 reading, Bloomberg reported.

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