Federal Reserve Bank of Richmond (08/25/15)
Manufacturing conditions slowed in August in the Mid-Atlantic states, according to the Federal Reserve Bank of Richmond. The composite index flattened to a reading of 0. Shipments dropped sharply; the index lost 20 points to end at -4, and the index for new orders fell 16 points to finish at a reading of 1.
Manufacturing employment remained at a flat reading of 1 in August. The average workweek index edged up two points from July’s reading to finish at 3. Average wages continued to increase moderately, adding one point to end at 15. Survey participants looked for strong growth in hiring in the months ahead.