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- Richmond manufacturing activity improved in September
Richmond manufacturing activity improved in September
Reports on Fifth District manufacturing activity improved in September, according to the latest survey by the Federal Reserve Bank of Richmond.
The composite manufacturing index rose from 14 to 19, supported by a sizable increase in the index for shipments - which, at a reading of 22, is the highest it has been since December 2010 - and a smaller rise in the index for new orders. The third component of the composite index, the employment index, fell slightly. Although the wages index also declined very slightly, there was a notable increase in the average workweek indicator.
Manufacturing expectations were stable across most measures this month, and continued to indicate overall optimism. The only notable changes in expectations were in the index for expected average workweek, which rose from 16 to 25, and the index for expected capital expenditures, which fell from 30 to 18.
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