Tuesday, August 22, 2017

Richmond Fed: "Manufacturing Activity in August Remained Little Changed from July"

by Bill McBride on 8/22/2017 10:04:00 AM

From the Richmond Fed: Reports on Fifth District Manufacturing Activity in August Remained Little Changed from July

Reports on Fifth District manufacturing activity were largely unchanged in August, according to the latest survey by the Federal Reserve Bank of Richmond. The composite index remained at 14 in August, with an increase in the employment index offsetting a decrease in the shipments index and a very slight decline in the new orders metric. Although the employment index rose from 10 to 17 in August, other measures of labor market activity — wages and average workweek — were largely unchanged.
emphasis added
This is suggests solid growth in August.