Tuesday, October 24, 2017

Richmond Fed: "Manufacturing Activity Remained Positive in October"

by Bill McBride on 10/24/2017 10:03:00 AM

From the Richmond Fed: Reports on Fifth District Manufacturing Activity Remained Positive in October

Reports on Fifth District manufacturing activity remained positive in October, according to the latest survey by the Federal Reserve Bank of Richmond. The composite index dropped, affected by a notable decline in the shipments index, which fell from 22 to 9, but it remained positive across all components, indicating continued growth. While most manufacturing indexes fell in October, the wage index increased from 17 to 24, which is the highest it has been since May of 2000.

Manufacturing firms remained optimistic about growth in the next six months. Most expectations indexes rose, with the exception of employment and average workweek, which both remained positive and were well above current values.
emphasis added
This suggests decent growth in October.