N.Y. State Manufacturing Index Slips

Manufacturing growth in New York state dipped in October, 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 27.4 from a 28.8 in October. Readings above zero indicate expansion.

Economists had forecast a decline to 19, Bloomberg reported.

The survey’s new orders index fell to 24.5 from 25, the Fed said.

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