N.Y. Manufacturing Index Rises as New Orders Hit Record

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he Federal Reserve Bank of New York said Wednesday its manufacturing index rose to 29.9 in December from 18.9 the month before.

December’s reading was the highest since July. Readings above zero indicate expansion, and the survey has shown growth since May 2003. In February, it reached a record of 42.1.

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

The new orders index jumped to 40.2, the highest since records began in 2001, from 16.9. The Fed said 40% of manufacturers reported an increase in new orders.

The index of shipments rose to 38.4 this month from 21.5 and the index of unfilled orders rose to 10.4 compared with minus 1.4.

The gauge of the number of employees rose to 21.9, the second-highest this year, from 10.6 in November.

The Empire State survey began in July 2001, when the U.S. 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.