New York ‘Empire’ Manufacturing Index Contracts

Manufacturing activity in the New York region contracted this month, the Federal Reserve Bank of New York said Monday.

The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, fell to a negative 11.1 reading, from 15.7 in October, the regional Fed said.

Readings above zero indicate expansion.

The negative reading was well below economists’ forecasts of a decline to positive 14, Bloomberg reported.

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