Fifth District Manufacturing Activity Falls in September
The Manufacturing Activity Index in the US fifth district including the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia dropped to -3 in September 2021, its lowest level since May 2020. The indexes for shipments and new orders declined to -1 and -19, respectively, also the lowest readings in 16 months. Meanwhile, the gauge for employment rose 2 points to +20. Manufacturers continued to see low inventories, lengthening lead times and backlogs of orders. In addition, firms reported weakening local business conditions, but they were optimistic that conditions would improve in the next six months.
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