N.Y. Factory Index Expands at Fastest Rate in 9 Months

Manufacturing activity in the New York region expanded at the fastest rate in nine months in March, 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, jumped to a 17.5 reading, from 15.4 in February, the regional Fed said.

Readings above zero indicate expansion. The index last contracted in November, its only contraction in more than a year.

The February reading was higher than economists’ forecasts of a 16.1 reading, Bloomberg reported.

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