Manufacturing activity in the central Atlantic region contracted at a less pronounced rate this month, after deteriorating in July, according to the Richmond Fed’s latest seasonally adjusted survey. Looking at the main components of activity, shipments edged higher, employment turned negative, and the weakness in new orders moderated somewhat. Evidence of diminished weakness was also reflected in most other indicators. District contacts reported that backlogs, capacity utilization, and delivery times remained negative but improved from July readings. Moreover, finished goods inventories grew at a slightly slower pace, while growth in raw materials was nearly unchanged.
Looking forward, assessments of business prospects for the next six months were generally in line with last month’s readings. Contacts at more firms anticipated steady growth in shipments, new orders, and backlogs in the months ahead, while they expected capacity utilization to grow more quickly.
Survey assessments of current prices revealed that growth in both raw materials and finished goods grew on par with July. Over the next six months, respondents expected growth in both raw materials and finished goods prices to grow at a somewhat quicker pace than they had anticipated last month.
Read entire source document from Richmond Fed
Summary of all Federal Reserve Districts Manufacturing:
Richmond Fed (hyperlink to reports):
Kansas Fed (hyperlink to reports):
Dallas Fed (hyperlink to reports):
Philly Fed (hyperlink to reports):
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New York Fed (hyperlink to reports):
Federal Reserve Industrial Production - Actual Data (hyperlink to report)