Manufacturing growth in New York state slipped in August, the Federal Reserve Bank of New York said Wednesday.
The regional Fed’s “Empire State Index,” generally the first economic indicator in a given month, fell to 25.1 from a 26.5 reading in July. Readings above zero indicate expansion.
For a second straight month, the reading was above economists’ forecasts of a drop to an 18 reading, Bloomberg reported.
The survey’s new orders index fell to 22.2 from 26.5, but a six-month outlook gauge rose to 50.4 from 48.2 in July.
Manufacturing is one of trucking’s largest and most important customers.
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