Factories in New York Area Expanded in March for Second Month

Manufacturing in the New York region expanded for a second month in March and industry managers grew more optimistic about the future, indicating the area’s factories are rebounding.

The Federal Reserve Bank of New York’s general economic index eased to 9.2 this month from 10 in February, which was the highest since May. Readings exceeding zero signal expansion in New York, northern New Jersey and southern Connecticut. The median projection in the Bloomberg survey was 10. A measure of manufacturers’ outlooks climbed to the highest level in almost a year.