South By North Strategies, Ltd.

From the Federal Reserve Bank of Richmond’s latest survey of manufacturing activity in the South Atlantic (District of Columbia, Maryland, North Carolina, South Carolina, Virginia and West Virginia):

Manufacturing activity in the central Atlantic region advanced modestly in October, following a slight pullback in September, according to the Richmond Fed’s latest survey. Looking at the main components of activity, shipments and employment edged back into positive territory while the volume of new orders posted solid gains. Other indicators varied. District contacts reported that growth in order backlogs was virtually unchanged, while delivery times grew more slowly. Furthermore, manufacturers reported that capacity utilization grew at a faster pace, while inventories grew at a slightly slower rate.
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Looking ahead, manufacturers’ optimism remained in place in October. Survey contacts anticipated that their shipments, new orders, backlog of orders, and capital expenditures would grow more rapidly in the months ahead.