New York Manufacturing Index Reaches All-Time Low

Manufacturing growth in New York state continued to show contraction this month, hitting the lowest level on record, the Federal Reserve Bank of New York said Monday.

The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, fell to a negative 25.8 reading, from negative 25.4 in November.

Readings above zero indicate expansion, while below that show contraction. The index averaged 17.2 last year.

Economists had forecast a reading of negative 28, Bloomberg said.

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