Research >> Economics
Richmond Fed's latest survey activity drops 4 to 26
In May, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — declined four points to 26 from April's reading of 30. Among the index's components, shipments edged up two points to 32, new orders inched down five points to finish at 36, and the jobs index dropped nine points to end at 4.
Other indicators also varied. The backlog of orders measure picked up 11 points to 16, and the index for capacity utilization held steady at 27. The delivery time's index eased three points to end at 14. Our gauges for inventories were slightly lower in May. The finished goods inventory index fell four points to 9, and the raw materials inventory index slipped three points to finish at 6.
Posted: May 25, 2010 Tuesday 10:00 AM