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Manufacturing Activity Slowed in November
Fifth District manufacturing activity slowed in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index decreased from 3 in October to -5 in November. Of its three component indexes, shipments fell from 9 to -8, new orders edged down from -4 to -5, and employment decreased from 7 to 0. Firms were not optimistic about local business conditions, as the index fell from -9 in October to -14 in November. The index for future local business conditions also decreased, edging down from -3 in October to -5 in November. Most firms continued to report declining ... (full story)