Richmond Fed Still Sees Recession Ending

From the Richmond Fed:

In August, manufacturing activity in the central Atlantic region expanded for the fourth straight month, according to the Richmond Fed's latest survey. Looking at the main components of activity, shipments expanded further, while new orders grew at a slightly slower rate and employment steadied. Correspondingly, solid activity was evident in other broad indicators. Capacity utilization continued to strengthen notably, while backlogs and vendor delivery times matched July's pace. In addition, manufacturers reported considerably quicker growth in raw materials inventories, but noted slower growth in finished goods materials inventories.

Although the Current Conditions Index remained unchanged, the Richmond Fed is still reporting an expansion of manufacturing activity in August for the fourth consecutive month.

Comments

[John Galt:]

Too bad our economy is 70% service based.

A slight increase in manufacturing is great and all, but what about the rest of the economy? People complain the USA "doesn't manufacture anything" anyway. Now they are standing on a slight increase in manufacturing to say that recover is on the way?

" We don't manufacture anything anymore"
" But manufacturing is going up!"


In all reality the belief that we don't manufacture anyting is a myth, but it just boggles my mind the logic of some people.

Aug 26 09:01 AM

[conceptwizard:]

I can see we are manufacturing so much that they cant find workers. All of the 6.3 million unemployed are unqualified.

Aug 26 09:46 AM

[jeandit75:]

Yes it does call for an end to the recession for now but it won't anymore post the FED's multi-trillion stimulus

Aug 26 02:47 PM

[logicalman:]

what boggles my mind is that the alpha bears,99% of comments on this site,have been super negative for the past 5 to 6 months,and this at a time when the major mkts. have risen approx. 50% + ..... of course at some point in time you will be right and we will have a decent correction of maybe 10,20,or 30 %..will you be ready to buy at that time..i think not.....perpetual bears do make $ at certain times, but i wonder if they manage to do better than break-even on their equity investments.....bet your bottom dollar i will get a lot of thumbs down for this comment..but its o.k. i have been doing quite well these past few months!!!


On Aug 26 09:01 AM John Galt wrote:

> Too bad our economy is 70% service based.
>
> A slight increase in manufacturing is great and all, but what about
> the rest of the economy? People complain the USA "doesn't manufacture
> anything" anyway. Now they are standing on a slight increase in manufacturing
> to say that recover is on the way?
>
> " We don't manufacture anything anymore"
> " But manufacturing is going up!"
>
>
> In all reality the belief that we don't manufacture anyting is a
> myth, but it just boggles my mind the logic of some people.

Aug 26 08:41 PM

[CLH:]

Mr logical. You are right. Bears and other negatives are losers 100% of the time and in all areas of their life.

Aug 27 08:42 AM