24 Sep 2013
US: Richmond Fed Manufacturing Index drops to flat in September
FXstreet.com (Barcelona) - The Federal Reserve Bank of Richmond reported on Tuesday that the Richmond Fed Manufacturing Index was unchanged in September, down from 14 in August and against forecasts of an increase to 17.
According to the official release: Shipments, capacity utilization, and vendor lead time flattened, while the volume of new orders slowed. The backlog of new orders remained in decline. Finished goods inventories and raw materials inventories built up at about the same pace as in August. Manufacturing employment fell and the average work week shrank, while wage growth remained robust.”
According to the official release: Shipments, capacity utilization, and vendor lead time flattened, while the volume of new orders slowed. The backlog of new orders remained in decline. Finished goods inventories and raw materials inventories built up at about the same pace as in August. Manufacturing employment fell and the average work week shrank, while wage growth remained robust.”