Some manufacturing companies in the Fifth District reported easing conditions in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The Composite manufacturing index remained negative, but improved from -10 in October to -9 in November. Of the three indices that comprise it, shipments and employment deteriorated slightly, falling to -8 and -1, respectively. However, the third component index, the volume of new orders, showed some improvement, going from -22 to -14 in November.
The salary index decreased notably from 34 to 25 in November, but remained high. The local business conditions index went from -16 in October to -6 in November, with considerably fewer companies pessimistic about conditions in the next six months.
Despite the spectacular improvements registered throughout this year, the supply chain problems seem to persist for some companiesas supplier delivery time and backorder indices increased slightly.
The average growth rate of prices paid decreased in November, while the average growth rate of prices received increased slightly.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
