(RichmondFed) The Fifth District manufacturing activity posted increases in April, with the index at 14, up from 13 in March.
The order backlogs posted gains in April, with firms finding it difficult to recruit workers with the requisite skills. Employment levels surged.
The index gauging the finished goods and raw material stockpiles remained lower, with firms projecting further weaknesses in the foreseeable future.
Firms continued to report delivery challenges, as the lead time was maintained at higher levels. The delivery times are projected to continue increasing in the course of the next six months.
The prices paid rose slightly, while the prices received went lower marginally. Firms remained upbeat that cost prices would wane somewhat in the next twelve months.
Despite the improvements in manufacturing, firms were less optimistic about the current conditions and expected the situation to worsen in the next six months.
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