New York Manufacturing Activity Slows in February
Manufacturing activity in the New York region slowed in February, the Federal Reserve Bank of New York said Feb. 18.
The “Empire State Index,” generally the first economic indicator in a given month, fell to a 4.48 reading from 12.51 in January, the regional Fed said.
Economists had called for a reading of 8.5 in February, Bloomberg News reported. Readings greater than zero show expansion, and those less than zero indicate contraction.
“This is consistent with the mixed economic data we’ve been receiving,” Ian Lyngen, a government-bond strategist at CRT Capital Group told Bloomberg. “While there’s no clear indication it’s weather-related, some of the incoming data have been impacted by the weather. Uncertainty remains high.”
Manufacturing is one of trucking’s largest and most important customers.
