Richmond Fed Manufacturing Activity Contracted at a Slightly Slower Pace in August 2012

August 28th, 2012
in econ_news, syndication

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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):

/images/z richmond_man.PNG

Kansas Fed (hyperlink to reports):

/images/z kansas_man.PNG

Dallas Fed (hyperlink to reports):

/images/z dallas_man.PNG

Philly Fed (hyperlink to reports):

/images/z philly fed1.PNG

New York Fed (hyperlink to reports):

/images/z empire1.PNG

Federal Reserve Industrial Production - Actual Data (hyperlink to report)



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