New York ‘Empire’ Manufacturing Index Expands

Manufacturing activity in the New York region expanded this month, 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 an 11.9 reading, from 10.6 reading in December, the regional Fed said.

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

The January reading was below economists’ forecasts of a reading of 12.5, Bloomberg reported.

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