Central Atlantic reports add to mid-Atlantic report.
8/23/11, "Factory and housing data point to weak growth," Reuters
"Factory output in the U.S. central Atlantic region dropped to a two-year low in August and new home sales hit a five-month low in July, the latest signs to suggest the economy is at risk of stalling.
The Richmond Federal Reserve Bank said on Tuesday its index of factory activity in its district fell to minus 10 from minus 1 in July as new orders and shipments weakened sharply.
It was the lowest reading since June 2009.
While the survey covers only a small portion of U.S. manufacturing, it follows a report last week that showed a steep decline in factory activity in the mid-Atlantic region, signaling a potential shrinking in the sector that has shouldered the economy's recovery.
"The manufacturing sector was one of the most consistent pockets of strength in this recovery and all of a sudden it seems to be taking a very severe beating that goes beyond the supply chain disruptions related to the Japan earthquake," said Anthony Karydakis, chief economist at Commerzbank in New York....
The Philadelphia Fed said on Thursday that an index covering factory activity in its region
- dropped to a near 2-1/2 year low in August.
That survey covered businesses in eastern Pennsylvania, southern New Jersey and Delaware, while the report from the Richmond Fed covered the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia."...
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8/15/11, "Empire State manufacturing index falls further in August," Forexpros
via Weasel Zippers
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