N.Y. Manufacturing Index Contracts for Third Straight Month

Manufacturing activity in the New York region contracted in August for the third straight month, 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 reading of negative 7.7, from minus 3.8 in July.

Readings above zero indicate expansion.

Economists had projected an index of zero in August, 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.