N.Y. Manufacturing Index Contracts for Fourth Month

Manufacturing activity in the New York region contracted in September for the fourth straight month, the Federal Reserve Bank of New York said Thursday.

The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, fell to a reading of negative 8.8, the lowest reading since November, from minus 7.7 in August.

Readings above zero indicate expansion.

Economists had projected that the index would increase to minus 4 in September, Bloomberg reported.

The Empire State index also covers northern New Jersey and Southern Connecticut. Manufacturing is one of trucking’s largest and most important customers.