US October Richmond Fed composite manufacturing index +3 vs +3 expected

• Prior month +5.0
• New orders -4 vs +3 last month
• Services index -11 versus +4 last month
• Shipments +9 versus +7 last month
• Employment +7 versus +7 last month
• Wages +29 versus +23 last month
• Availability of skills needed -1 versus -10 last month
• Prices paid +3.02 versus +4.06 last month
• Prices received +2.07 versus +3.06 last month.
• Full report

I’ve been talking for awhile about the manufacturing recession ending and the evidence continues to mount. Last month, this survey rose above 50 for the first time in 17 months. Pricing pressure is also decreasing.