New York ‘Empire’ Manufacturing Index Expands

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

The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, grew to a 10.6 reading, from negative 11.1 in November, the regional Fed said.

Readings above zero indicate expansion. November’s reading was the first contraction in more than a year.

The December reading exceeded economists’ forecasts of a reading of 5, Bloomberg reported.

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