Manufacturing growth in New York state contracted in February, the Federal Reserve Bank of New York said Friday.
The regional Fed鈥檚 鈥淓mpire State Index,鈥 generally the first economic indicator in a given month, fell to a reading of minus 11.7, from 9 in January, the Fed said.
Readings above zero indicate expansion; below that level show contraction.
Economists had forecast a reading of 6.5, Bloomberg reported.
The survey鈥檚 new orders index fell to minus 11.9, from zero in the previous month, the Fed said.
Manufacturing is one of trucking鈥檚 largest and most important customers.
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