The string of bad economic reports continues to mount. Today the Richmond Fed Manufacturing Region put in another dismal performance with a diffusion index reading of -8, following last month’s reading of -11.

36-Month Low in Employment

The Richmond Fed Fifth District Survey of Manufacturing Activity shows Manufacturing Sector Activity Still Soft in September with Employment at a 36-Month Low.

Richmond Fifth District Manufacturing Conditions

richmond-fed-2016-09

Synopsis

  • Wages up
  • Inventories up
  • Prices paid up
  • Shipments down
  • Employment down
  • New orders down
  • Backlog down

The manufacturing employment index fell into negative territory for the first time in three years, with a reading of -13.

Mike “Mish” Shedlock