Fifth District manufacturing activity changed little in October, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index edged down from 5 in September to 3 in October. Of its three component indexes, shipments edged up from 7 to 9, new orders fell from 3 to -4, and employment remained at 7. Although the level of the composite index was not very high, it was positive for only the second month since the spring of 2022. Firms were not optimistic about local business conditions, however, as the index fell from 0 in September to -9 in October. The index for future ... (full story)