Manufacturing in New York Area Grew at Faster Pace in March

Manufacturing in the New York region accelerated in March at the fastest rate in nine months, a sign factories remain at the forefront of the economic expansion.

The Federal Reserve Bank of New York’s general economic index rose to 17.5 from 15.4 in February. Economists projected an increase to 16.1, based on the median forecast in a Bloomberg News survey. Readings greater than zero signal expansion in the so-called Empire State Index, which covers New York, northern New Jersey, and southern Connecticut.