Richmond Fed Manufacturing Index At Worst Level Since June 2009

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Offline Letsbereal

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Richmond Fed gauge at worst level since June 2009
23 August 2011
, by Steve Goldstein - Washington (MarketWatch)
http://www.marketwatch.com/story/richmond-fed-gauge-at-worst-level-since-june-2009-2011-08-23

The Richmond Fed said Tuesday that its manufacturing index slumped to -10 in August from -1 in July, as shipments and new orders declined sharply.

The Richmond Fed gauge wasn't as bad as the -30.7 reading of a similar Philadelphia Fed indicator but was still the worst reading since June 2009.

The Richmond Fed is a diffusion index, calculated by subtracting the percentage of respondents who say activity has dropped from those who say it has increased.
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