The string of bad economic reports continues to mount. Today the Richmond Fed Manufacturing Region put in another dismal performance with a diffusion index reading of -8, following last month’s reading of -11.
36-Month Low in Employment
The Richmond Fed Fifth District Survey of Manufacturing Activity shows Manufacturing Sector Activity Still Soft in September with Employment at a 36-Month Low.
Richmond Fifth District Manufacturing Conditions
Synopsis
- Wages up
- Inventories up
- Prices paid up
- Shipments down
- Employment down
- New orders down
- Backlog down
The manufacturing employment index fell into negative territory for the first time in three years, with a reading of -13.
Mike “Mish” Shedlock
