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Richmond Fed's latest survey activity jumps 24 to 30
In April the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — jumped 24 points to 30 from March's reading of 6. Among the index's components, shipments moved up 25 points to 30, new orders leaped 31 points to finish at 41, and the jobs index advanced 13 points to end at 13.
Other indicators also suggest stronger activity. The backlog of orders measure turned positive, picking up 12 points to 5, and the index for capacity utilization increased 24 points to 27. The delivery times index added nine points to end at 17. Our gauges for inventories were slightly higher in April. The finished goods inventory index rose seven points to 13, and the raw materials inventory index edged up two points to finish at 9.
Posted: April 27, 2010 Tuesday 10:00 AM