Federal Reserve Bank of Richmond (02/23/21)

Mid-Atlantic manufacturing activity continued to improve in February, according to the Federal Reserve Bank of Richmond. The composite index held steady from January to February, at 14, as all three component indexes—shipments, new orders, and employment—remained firmly positive. Manufacturers were optimistic that conditions would improve in the coming months.

Many manufacturers increased employment and wages in February. However, finding workers with the necessary skills was difficult. Respondents expected this difficulty to continue in the next six months.

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