New York State Manufacturing Index Increases in October

October 16, 2006 8:30 AM, EDT

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anufacturing growth increased in New York state in October, the Federal Reserve Bank of New York reported Monday.

The regional Fed’s “Empire State index” rose to a reading of 22.9 from September’s reading of 13.8. Readings above zero indicate expansion.

Economists’ had expected the level to fall to 11.2, Bloomberg reported.

Declining prices for energy and raw materials, which have reduced costs for manufacturers, contributed to the index’s rise, Bloomberg said.

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