New York Manufacturing Index Expands for Third Month

Manufacturing activity in the New York region expanded for a third straight month in April, though the rate of expansion slowed, the Federal Reserve Bank of New York said Monday.

The so-called “Empire State Index,” generally the first economic indicator in a given month, posted a reading of 3.1, down from 9.2 in March, the regional Fed said.

Readings of less than zero indicate contraction, while those more than zero show expansion.

The index was below economists’ forecasts of a reading of 7, Bloomberg News reported.

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