Mumbai, Sept. 22 -- Fifth District manufacturing activity contacted in September, according to the Richmond Federal Reserve, with the headline composite index slipping back into negative territory. The composite index fell to -2 from 4 in August, as shipments dropped to -5 from 11 and new orders declined to -6 from 3. Forward looking indicators for shipments and new orders remained in positive territory, though the employment expectations index fell sharply to 8 from 20, pointing to a cooler outlook for labour market in region.
Published by HT Digital Content Services with permission from Capital Market....