Economy
May 22, 2017
Richmond Manufacturing Survey Shows Optimism Waning
Written by Sandy Williams
The Fifth District Survey of Manufacturing Activity showed shipments and new orders fell significantly in May pulling the composite index down to 1 from 20 in April.
The index for backlogs decreased to -15 from 4 in April and vendor lead times increased to an index reading of 6 from 2. The finished goods inventory dropped points to 15 while the raw materials index slipped 7 points to a reading of 17.
