Manufacturing Activity Improved in March

Federal Reserve Bank of Richmond (03/22/22)

Mid-Atlantic manufacturing activity improved in March, according to the Federal Reserve Bank of Richmond. The composite manufacturing index increased from 1 in February to 13 in March, with increases in all three of the component indexes—shipments, volume of new orders, and number of employees. Notably, the shipments index increased from -11 in February to 9 in March. The volume of new orders increased from -3 in February to 10 in March.

In general, firms continued to report increased hiring and rising wages. Additionally, the index for the average workweek increased notably in March.

Read the full original article here.