New York State Manufacturing Index Declines in March

Click here to write a Letter to the Editor.
Manufacturing growth in New York state fell off sharply this month, the Federal Reserve Bank of New York reported Thursday.The regional Fed’s “Empire State Index,” usually the first economic indicator of a given month, declined to a 1.9 reading in March from 24.4 last month, the Fed said.Readings above zero indicate expansion. The index averaged 20.3 last year.The reading was well below economists’ forecasts of a 17.5 reading, Bloomberg reported.The survey’s new orders index fell to 3.1 from 18.9, and shipments fell to 18.5 fro 27.1.Manufacturing is one of trucking’s largest and most important customers.