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- Richmond Fed Manufacturing Index drops to 0 in August
Richmond Fed Manufacturing Index drops to 0 in August
The Federal Reserve Bank of Richmond released its survey of manufacturing activity on Tuesday. The composite index for manufacturing dropped to 0 in August from 13 in July.
The decline was driven by decreases in shipments and order backlog. Shipments subindex fell 20 points to -4 in August, while new orders subindex was down 16 points to 1.
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