Economic Buzz: Richmond Fed manufacturing index softens

Fifth District manufacturing activity contacted in September, according to the Richmond Federal Reserve, with the headline composite index slipping back into negative territory. The composite index fell to ‑2 from 4 in August, as shipments dropped to ‑5 from 11 and new orders declined to ‑6 from 3. Forward looking indicators for shipments and new orders remained in positive territory, though the employment expectations index fell sharply to 8 from 20, pointing to a cooler outlook for labour market in region.

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