Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Richmond Manufacturing Output Plunges in May


Manufacturing firms in the Fifth District reported declines in output in May.

Source: Federal Reserve Bank of Richmond

DXY down -0.23%, EURUSD up +0.35%

The composite manufacturing index dropped from 14 in April to -9 in May as two of the three, both shipments and volume of new orders, fell into negative territory.

The employment index remained positive at 8 in May, falling from 22 in April. The local business conditions index continued to fall to -16 in May from -10 in April.

Manufacturing firms were less optimistic about business conditions in the next six months as the index fell to -13 in May from -1 in April.

On a positive note, there were signs of supply chain improvement as the indexes for vendor lead time, and order backlogs both fell in May from record highs earlier in the year.


Japan’s Bitbank Teams Up with Sumitomo Mitsui to Establish a Digital Asset Custody Firm

Previous article

Fisker Unveils $350-Million Equity Program

Next article

You may also like


Leave a reply

Your email address will not be published.

More in News