Richmond Fed: "Manufacturing Activity Softened in September"

From the Richmond Fed: Manufacturing Activity Softened in September Fifth District manufacturing activity softened in September, according to the most recent survey from the Richmond Fed. The composite index dropped from 1 in August to -9 in September , as both shipments and new orders fell. However, the third component, employment, rose. Firms also reported a drop in backlog of orders and weakening local business conditions but were optimistic that conditions would improve in the coming months. Survey results indicated wage growth and a slight increase in employment in the manufacturing......(read more)

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