11.02.2009 Policy Points

Manufacturing Activity in the South Atlantic: Oct.

From the Federal Reserve Bank of Richmond’s October survey of manufacturing activity in the South Atlantic (District of Columbia, Maryland, North Carolina, South Carolina, Virginia and West Virginia):

Manufacturing activity in the central Atlantic region expanded for the sixth straight month but at a more moderate pace in October, according to the Richmond Fed’s latest survey. All broad indicators — shipments, new orders and employment — continued to grow but at a rate below September’s pace. Other indicators were mixed, however. Capacity utilization continued to grow more slowly, while backlogs fell further into negative territory. Vendor delivery times were virtually unchanged, while manufacturers reported slower growth in finished goods inventories.

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