Fifth District manufacturing activity improved in September, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index increased from -7 in August to 5 in September. Each of its three component indexes—shipments, new orders, and employment— increased. The shipments index improved from -5 in August to 7 in September, the new orders index increased from -11 to 3, and the employment index rose from -3 to 7. Although the level of the composite index was not very high, this was the first positive reading of the index since the spring of 2022. Firms were not much more ... (full story)