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Tuesday, October 22, 2019

Richmond Fed: "Manufacturing Activity Strengthened in October"

by Calculated Risk on 10/22/2019 02:01:00 PM

Earlier from the Richmond Fed: Manufacturing Activity Strengthened in October

Fifth District manufacturing activity strengthened in October, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from −9 in September to 8 in October, as all three components — shipments, new orders, and employment — increased. Manufacturing firms also reported an increase in backlog of orders and improved local business conditions. Respondents were optimistic that conditions would continue to improve in the next six months.

Many survey respondents saw growth in employment and wages in October and expected continued growth in the near term. However, manufacturers still struggled to find workers with the necessary skills in October and expected this difficulty to persist in the coming months.
emphasis added
This was a better report - but not strong.