Richmond Fed: "Manufacturing Activity Was Moderate in August"

From the Richmond Fed: Manufacturing Activity Was Moderate in August Fifth District manufacturing activity was moderate in August, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from -12 in July to 1 in August , buoyed by increases in the indexes for shipments and new orders. However, the third component, employment, fell. ... Survey results suggested that many firms saw employment decline while the average workweek increased in August. Respondents reported persistent wage growth but still struggled to find workers with the necessary......(read more)

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