Research >> Economics
Richmond Fed's Current Activity drops 13 to -2
In September, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — turned negative, losing thirteen points to −2 from August's reading of 11. Among the index's components, shipments fell fifteen points to −4, new orders lost ten points to finish at 0, and the jobs index declined fifteen points to −3.
Other indicators also suggested weaker activity. The backlogs of orders measure turned negative losing eleven points to −11, and the index for capacity utilization flattened declining fourteen points to 0. The delivery times index held steady at 8, while our gauges for inventories were somewhat higher in September. The finished goods inventory index inched up four points to 15, and the raw materials inventory index advanced four points to finish at 13.
Posted: September 28, 2010 Tuesday 10:00 AM