N.Y. Manufacturing Index Rises in March

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he Federal Reserve Bank of New York said Tuesday its manufacturing index rose to 19.6 in March from 19.2 in February.

Manufacturing is one of trucking’s largest and most important customers. Readings above zero indicate expansion, and the survey has shown growth since May 2003.

A Bloomberg survey showed analysts’ estimates ranged from 12 to 28.

The so-called Empire State index is the first gauge of U.S. manufacturing strength for March. In February 2004, the index reached a record of 42.1.

The new orders index fell to 7.9 from 17.3 in February and fewer New York manufacturers said they expected more new orders over the next few months, Bloomberg reported.

The index of shipments rose to 42.2 from 41.2 and the index of inventories fell to negative 3.7 from 0.8.

The gauge of the number of employees rose to 11.4 from 8.9 in February.

The Empire State survey began in July 2001, when the U.S. economy was in a recession. The Buffalo branch of the New York Fed said it polls about 150 factories each month and typically receives 100 responses.