Richmond Fed Manufacturing Index Falls More Than Expected
The Richmond Fed manufacturing index slowed in March, after improvement in the previous month, survey data showed Tuesday.
The Fifth District Manufacturing Activity index dropped to -11 from -5 in February. Economists had expected the measure to remain unchanged.
Among its three component indexes, shipments remained solidly negative at -14 versus -15 in each of the previous two months.
The new orders subindex fell to -17 from -5, and the employment indicator slid to 0 from 7.
Firms were divided in their assessment of local business conditions and the index hovered around 0.
Meanwhile, the index for future local business conditions, climbed to 12 from 3 in February.
The backlogs sub-index remained negative at -25 versus -15 in the previous month, as most firms reported declines.
The vendor lead time index sunk to -17 from 4 in the previous month. The capacity utilization index plunged to -21 from -4.
The average growth rate of prices paid and prices received decreased in March and firms expect both growth rates to moderate further over the next 12 months, the survey said.
Economic News
Reprinted from RTTNews，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.