Richmond Fed factory index slips in April

Manufacturing sector activity in states bordering the mid-southeastern US Atlantic coast deteriorated a bit more in April, the results of a survey revealed.

The Federal Reserve Bank of Richmond's factory sector index slipped from a reading of -5 for March to -10 in April.

Two of its largest components, the subindices for shipments and new orders, fell from 2 to -7 and from -11 to -20, respectively.

A gauge of employment on the other hand improved from -5 to 0.

The Richmond Fed's fifth district comprised the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and the majority of West Virginia.