Richmond Fed's Manufacturing Index Jumped in September
September 25 2018 - 10:59AM
Dow Jones News
By Aisha Al-Muslim
An index measuring manufacturing activity across the central
Atlantic region expanded in September, according to a report
released Tuesday.
The Federal Reserve Bank of Richmond said in a report its
composite manufacturing index rose to 29 in September from 24 in
August. Economists polled by The Wall Street Journal expected a
reading of 20 in September.
Positive readings signal expansion, while negative readings
indicate contraction.
Indexes for shipments and the volume of new orders all increased
in September from a month earlier, while employment dropped, the
report said.
Manufacturing employment fell in September as companies
continued to face challenges finding skilled workers, which they
expect to continue in the next months. The indicator for the
availability of skills needed was minus 11 in September, up from
minus 17 in August. Wages and the average workweek grew.
Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com
(END) Dow Jones Newswires
September 25, 2018 10:44 ET (14:44 GMT)
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