Central Atlantic manufacturing steady

Nov. 22, 2011 at 12:12 PM
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RICHMOND, Va., Nov. 22 (UPI) -- The Richmond, Va., Federal Reserve Bank said business activity in the Central Atlantic states held steady in November.

The overall index rose from minus 6 to zero in the month, the pivot point between contraction and growth.

The shipments index rose from minus 6 to 1, while the index for new orders rose from minus 5 to minus 2.

The critical employment index measuring the number of employees also went from negative to breakeven, jumping out of last month's minus 7 to zero.

The index on wages rose from 5 to 10 while the index measuring average work hours rose from minus 1 to zero.

The survey showed respondents remain confident about business six months down the road.

The index for expected shipments rose 8 points to 36 while expectations of new orders added 12 points to reach 37.

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