New York Manufacturing Index Expands at Slower Pace in August

Manufacturing activity in the New York region expanded at a slower pace in August, the Federal Reserve Bank of New York said Thursday.

The “Empire State Index,” generally the first economic indicator in a given month, declined to an 8.2 reading, from 9.5 in July, the regional Fed said.

Readings greater than zero show expansion, while those less than zero indicate contraction.

Economists had forecast a reading of 10, Bloomberg News reported.

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