N.Y. Factory Index Expands to Nine-Month High

Manufacturing activity in the New York region expanded in January at the fastest pace in nine months, 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 13.5 reading, the highest level since April, from a revised 8.2 in December, the regional Fed said.

Readings above zero indicate expansion.

The reading surpassed economists’ forecasts of an 11 reading, Bloomberg reported.

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