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Fifth District Manufacturing Activity Grew Moderately in March
Fifth District manufacturing activity grew moderately in March, according to the latest survey from the Richmond Fed. The composite index fell from 16 in February to 10 in March but remained in expansionary territory. The fall came from drops in both the shipments and new orders indexes, but the third component, employment, increased. Firms were optimistic, expecting conditions to improve in the coming months. Survey results indicated growth in both employment and wages in March. However, firms continued to struggle to find workers with the skills they needed. Respondents expected this struggle to persist in the near ... (full story)