Richmond Fed Still Signals Recession Is Ending
In August, manufacturing activity in the central Atlantic region expanded for the fourth straight month, according to the Richmond Fed's latest survey (see chart above). Looking at the main components of activity, shipments expanded further, while new orders grew at a slightly slower rate and employment steadied. Correspondingly, solid activity was evident in other broad indicators. Capacity utilization continued to strengthen notably, while backlogs and vendor delivery times matched July's pace. In addition, manufacturers reported considerably quicker growth in raw materials inventories, but noted slower growth in finished goods materials inventories.
MP: Although the Current Conditions Index remained unchanged, the Richmond Fed is still reporting an expansion of manufacturing activity in August for the fourth consecutive month.
Originally posted at Carpe Diem.
2 Comments:
The Philly Fed Coincident Index says the recession is NOT ending with 46 states showing declining activity. The KC and Richmond Fed Manufacturing surveys showed either declines or no change.
Shall we duel with Fed surveys and indices at ten paces?
The Richmond Fed includes the Washington D.C. area, so stimulus is infinite. The Raleigh-Durham area is also included which is dynamic for intellectual property growth and a real-world boost for this regional Fed.
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