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Richmond Fed: Manufacturing Activity Wilts in March

Dow Jones Business News (03/25/14) Cynthia Lin

Factory activity in the southern mid-Atlantic region declined in March, according to the Federal Reserve Bank of Richmond. The current business conditions index declined to -7 this month from -6 in February, marking an eight-month low. Figures above zero signal expansion.

The region’s manufacturing subindexes also declined. The shipment index fell to -9 this month from -6 in February, also marking an eight-month low. The new orders index held at -9.

Meanwhile, demand for labor remained weak. The employment index held at zero, while the workweek index recovered just slightly to 2 from -5.