Research >> Economics
Richmond Fed's latest survey activity drops to 1
In November, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — moved down to 1 from October's reading of 7. Among the index's components, shipments dropped five points to 6, new orders lost four points to finish at 3, and the jobs index fell 11 points to end at −9.
Other indicators were mostly in line with recent readings. The capacity utilization measure edged down two points to 2 and the orders backlogs index eased one point to −12, while the delivery times index was virtually unchanged at −1. Our gauges for inventories were somewhat lower in November. The finished goods and raw materials inventory indexes each trimmed two points to finish at 12 and 10, respectively.
Posted: November 24, 2009 Tuesday 10:00 AM