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Manufacturing Is Unexpectedly Booming in Maryland, Virginia, West Virginia, North Car

Jim_S

Gone But Not Forgotten
GOLD Site Supporter
Manufacturing Is Unexpectedly Booming in Maryland, Virginia, West Virginia, North Carolina, and South Carolina
by JOHN CARNEY 25 Sep 2018

https://www.breitbart.com/big-government/2018/09/25/richmondfedmanufacturingindex/

Manufacturing expanded at a much faster clip than expected in September, according to the results from the most recent survey by the Federal Reserve Bank of Richmond.

The survey covers manufacturing in the Fed’s Fifth District, which includes Maryland, Virginia, West Virginia, North Carolina, and South Carolina.

“The composite index rose from 24 in August to 29 in September, buoyed by increases in shipments and new orders, while the index of the third component, employment, dropped. Survey respondents were optimistic, expecting growth to continue in the next six months,” the Richmond Fed said.

Despite the fall in the employment index, this component remains positive. Growth in wages and the average workweek expanded. Manufacturers said they continue to struggle to find employees with the skills needed.

Local business conditions improved markedly. Capital expenditures are up. Shipments and new orders also improved.

The jump was unexpected. After strong numbers in August, economists had predicted the Richmond Fed’s manufacturing index to fall to 20.

There were some signs of inflation and perhaps even tariffs taking a toll. Firms reported faster growth in both prices paid and prices received in September, after price growth had slowed in August.

“Growth in prices paid continued to outpace growth in prices received,” the Richmond Fed said. “However, firms anticipate slowing of growth in prices paid and accelerated growth of prices received to narrow the gap in the near future.”

The faster growth of prices paid by firms than prices received has been a consistent theme of the trade war, with tariffs weighing on profit margins rather than acting as a tax on consumers.
 

FrancSevin

Proudly Deplorable
GOLD Site Supporter
The very same is happening here in MO as well. I am hiring ten new people over the next two weeks. This will double the size of my labor force. Thinking that will be enough, I just received a call from an old client to produce ten million card sets for insertion into cereals. An incredibly profitable project which may well require another ten employees fist quarter of 2019. I haven't had one of them for over five years.

We are currently so busy I'm not sure if we can even handle the additional work. It's all Obama's fault. Were he a better President we might now be stuck with Hilary and I could retire.:yum:

:yum::yum::yum:Yeah, that's me laughing all the way to the bank. ALL thanks to THE Donald for kicking her @ss!!!!!:clap::clap::clap:
 
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