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Richmond Fed Manufacturing Index Plunges

M. Ali 24 August, 2021 9:03 pm Market Update

The Federal Reserve Bank of Richmond Survey of Manufacturing Activity’s composite index declined to a reading of 9 in August from 27 in July, data showed on Tuesday.

The reading indicates a slowdown in manufacturing activity to its lowest level since June 2020.

The shipments index also decreased to 6 from 21.

The employment index decreased to 18 from 36.

The new orders volume index fell to 5 from 25.

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