Economy
Fifth District Manufacturing Activity Growing
Written by Sandy Williams
July 28, 2015
The Federal Reserve Bank of Richmond released its manufacturing survey for the Fifth District on Tuesday showing moderate expansion in July. Shipments, new orders, and order backlogs all increased during the month. The composite index rose to 13 from 7 in June and 3 in May. The employment indices decreased to 1 while the wages index fell two points to 14.
Inventory levels are dropping with the finished goods index down 6 points to 24 and raw materials inventories at 16 from 23 in June.
Prices for raw materials rose quicker in July at an annualized 1.45 percent rate compared to 0.97 percent in June. Prices for finished goods were at an annualized rate of 0.58 from 0.59 the previous month.
The outlook for the next six months is optimistic with shipments and volume of new orders expected to grow. Prices paid are expected to remain flat while prices received are expected to increase at an annualized 1.03 percent rate.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings continue to slide in March
Architecture firms said billings continued to decline in March, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek.
Beige Book shows concerns about trade policy
Manufacturing was mixed, but two-thirds of districts said activity was little changed or had declined.
New York state manufacturing index drops again in April
Firms were pessimistic, with the future general business conditions index falling to its second lowest reading in the more than 20-year history of the survey
Construction adds 13,000 jobs in March
The construction sector added 13,000 jobs, seasonally adjusted, in March, but tariffs could undermine the industry.
Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them