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Richmond Fed Manufacturing Activity Rebounds

NASDAQ (08/27/13) Cynthia Lin

Business activity in the central Atlantic region rose in August on gains in both the service and manufacturing sectors, according to the Federal Reserve Bank of Richmond. The Richmond Fed’s manufacturing index soared this month, rising to 14 from -11 in July. Readings above zero indicate expansion. Meanwhile, the employment index rose to 6 from 0 in July, and the employee-expectations index rose to 9 from 5.

Factories in other areas of the country showed signs of gradual growth this month, according to data from the Dallas and Kansas City Federal Reserve banks.