N.Y. ‘Empire State Index’ Falls to Lowest Level in 19 Months

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Manufacturing growth slowed in New York state in January to the lowest level in 19 months, the Federal Reserve Bank of New York said Tuesday.The regional Fed’s “Empire State Index,” usually the first economic indicator of a given month, slid to a reading of 9.1 from a revised 22.2 in November, the Fed said. Readings above zero indicate expansion.The reading was well below the 19.3 reading forecast by economists, Bloomberg reported. The new orders index fell to 10.3, the lowest since June 2005, the Fed said.Manufacturing is one of trucking’s largest and most important customers.