The September report for the @RichmondFed Manufacturing Index is now available, revealing a drop in the headline figure to -2. This result falls below the forecasted estimate of +2 and shows a downturn from the previous month's reading of +4.
A deeper dive into the individual metrics highlights a mixed economic landscape. Employment levels experienced a welcome boost, rising to +7 compared to the prior period's score of -2. New orders also advanced, climbing to +6 from the earlier mark of +3. On the other hand, shipments saw a noticeable reduction, slipping to -5 after posting a strong +11 in the preceding month.
A deeper dive into the individual metrics highlights a mixed economic landscape. Employment levels experienced a welcome boost, rising to +7 compared to the prior period's score of -2. New orders also advanced, climbing to +6 from the earlier mark of +3. On the other hand, shipments saw a noticeable reduction, slipping to -5 after posting a strong +11 in the preceding month.
