Posted April 27, 2010
Manufacturing in Central Atlantic region expands
Manufacturing activity in the central Atlantic region expanded for the third straight month, according to the Richmond Fed's latest survey.
All broad indicators — shipments, new orders and employment — landed in positive territory, with manufacturers noting their first increase in worker numbers since October 2009. Other indicators were also positive. Backlogs increased for the first time since August 2009 and capacity utilization hit an all-time high reading since the inception of the measure. Vendor lead-time grew at a considerably quicker rate — the highest reading since August 2004, indicating slower delivery times, and inventories increased at a somewhat quicker pace.
Looking ahead, manufacturers were more optimistic about their future prospects in April. Firms anticipated more rapid growth across the board, particularly for shipments, new orders, capacity utilization, and capital expenditures.
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