New York State Manufacturing Index Jumps in February

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Manufacturing growth in New York state rebounded in February from January, the Federal Reserve Bank of New York said Thursday.The regional Fed’s “Empire State Index,” usually the first economic indicator of a given month, jumped to a 24.4 reading from 9.1 in January, the Fed said. Readings above zero indicate expansion.January’s reading had been the lowest reading in 19 months. (Click here for previous coverage.)The reading was well above the 10.6 forecast by economists, Bloomberg reported.A reading of the outlook for the next six months rose to 38.5 from 32.5, while the index’s measure of new orders jumped to 18.9 from 10.3, which had been the lowest level since June 2005.Manufacturing is one of trucking’s largest and most important customers.