Richmond Fed Composite Holds at -2 as New Orders Index Weakens
Photo: TokenPost
The Federal Reserve Bank of Richmond’s Fifth District manufacturing composite held at -2 in October, matching September, while new orders weakened and shipments improved. The new orders index slipped to -8 from -6, a two-point drop. Shipments climbed to 0 from -5, returning to an even balance between firms reporting gains and declines. The readings show different directions among the survey’s main measures rather than a uniform shift in activity. The employment gauge moved down four points, to 3 from 7, but remained above zero.
Source: TokenPost
