N.Y. Factory Index Expands at Fastest Rate in a Year
Manufacturing activity in the New York region expanded at the fastest rate in a year in April, 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, jumped to a 21.7 reading, from 17.5 in March, the regional Fed said.
Readings above zero indicate expansion. The index last contracted in November, its only contraction in more than a year.
The March reading was higher than economists鈥 forecasts of a 17 reading, Bloomberg reported.
Manufacturing is one of trucking鈥檚 largest and most important customers.
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