anufacturing growth slowed in New York state in April, the Federal Reserve Bank of New York reported Monday.
The regional Fed’s “Empire State index” fell to 15.8 from a reading of 29 in March, the Fed said. Readings above zero indicate expansion.
The level was well below economists’ forecast of a 24.3 reading, Bloomberg reported. Manufacturing is one of trucking’s largest and most important customers.
The Empire State index reached a record high of 39.6 in February 2004.
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