New York Manufacturing Index Rises

Manufacturing activity in the New York region grew this month at the fastest pace in four 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 24.6 reading, from 15.9 in January, the regional Fed said.

Readings above zero indicate expansion, while below that shows contraction.

The index was higher than economists’ forecasts of an 18 reading, Bloomberg reported.

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