Tuesday, April 23, 2019

Earlier Richmond Fed: "Fifth District Manufacturing Activity Moderated in April"

by Calculated Risk on 4/23/2019 02:31:00 PM

From the Richmond Fed: Fifth District Manufacturing Activity Moderated in April

Fifth District manufacturing activity moderated in April, according to the latest survey from the Richmond Fed. The composite index fell from 10 in March to 3 in April, weighed down by slightly negative readings in the indexes for both shipments and new orders but buoyed by a positive reading for the third component index, employment. Firms were optimistic, expecting conditions to improve in the next six months.

Survey results suggested continued positive growth in both employment and wages, although these indexes dropped slightly in April. However, firms reported a decline in the average workweek as they continued to struggle to find workers with the necessary skills. Firms expected this difficulty to continue in the coming months.
emphasis added