“Manufacturing activity in the central Atlantic region expanded in March for the fourth straight month, but at a more temperate pace than a month ago,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond.

“All broad indicators — including shipments, new orders, and employment — continued to grow but at a rate below February’s pace,” it said.

Meanwhile, service sector activity “strengthened in March,” according to the bank’s service-sector activity survey.

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