Richmond Fed: "Fifth District Manufacturing Activity Declined Sharply in April", Lowest Reading on Record

From the Richmond Fed: Manufacturing Activity Declined Sharply in April Fifth District manufacturing activity declined sharply in April, according to the most recent survey from the Richmond Fed. The composite index plummeted from 2 in March to -53 in April, its lowest reading and largest one-month drop on record . All three components - shipments, new orders, and employment - fell, and the indexes for shipments and new orders reached record lows. Firms reported weakened local business conditions and expected conditions to remain soft in the next six months. Survey results reflected a......(read more)

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