New York State Manufacturing Index Contracts

Manufacturing growth in New York state contracted in February, the Federal Reserve Bank of New York said Friday.

The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, fell to a reading of minus 11.7, from 9 in January, the Fed said.

Readings above zero indicate expansion; below that level show contraction.

Economists had forecast a reading of 6.5, Bloomberg reported.

The survey’s new orders index fell to minus 11.9, from zero in the previous month, the Fed said.

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