“Manufacturing activity in the central Atlantic region expanded for the fifth straight month in September,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond and released yesterday.
“All broad indicators — shipments, new orders, and employment — landed in positive territory, with manufacturers noting their first increase in worker numbers since December 2007,” the Fed said. “Other indicators were mixed, however. Capacity utilization grew more slowly, while backlogs and vendor delivery times shrank. In addition, manufacturers reported slower growth in inventories.”