Manufacturing firms reported continued growth in October. A Federal Reserve survey showed general activity, new orders, shipments and employment all remained positive this month.
The survey’s market indicators also showed notable improvement. The indexes assessing the six-month outlook suggest that firms remained optimistic about future growth.
The index for current manufacturing activity in the region increased 4 points and is now at its highest reading since May. More than 39 percent of the firms indicated increases in activity this month, while 11 percent reported decreases.
Both the new orders and shipments indexes remained positive but fell this month. Both the unfilled orders and delivery times indexes were positive for the 12th consecutive month, suggesting longer delivery times and an increase in unfilled orders.
Firms reported, on balance, an increase in manufacturing employment and longer workweeks this month. Nearly 31 percent of the firms this month reported higher employment compared with 18 percent last month, and no firms reported decreases.
