Manufacturing activity in the New York region contracted inNovember for a fourth straight month, the Federal Reserve Bank of New York said Thursday.
The “Empire State Index,” generally the first economic indicator in a given month,wasminus 5.2after minus 6.2 in October, the regional Fed said.
Readings of less than zero indicate contraction, while above that shows expansion.
TheNovember reading was above economists’ forecasts of a minus 8 reading, Bloomberg reported.
Manufacturing is one of trucking’s largest and most important customers.
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