US DATA: Sep Richmond Fed mfg text: “Manufacturing activity in the
central Atlantic region contracted at a less pronounced rate this month.
Looking at the main components of activity, employment grew at a
slightly quicker rate, while shipments exhibited more moderate weakness
and new orders slipped further into negative territory. Evidence of
diminished weakness was also reflected in most other indicators.
District contacts reported that backlogs, capacity utilization, and
delivery times remained negative but improved from August’s readings.
Manufacturers reported somewhat quicker growth in finished goods
inventories. Looking forward, manufacturers’ assessments of business
prospects for the next six months were more optimistic in September.
Contacts at more firms anticipated that shipments, new orders, backlogs,
and capacity utilization would grow more quickly during the next six
months than they expected in August, while growth in capital
expenditures would be slower. Survey assessments of current prices
revealed that raw materials grew at a somewhat slower rate.”