Central Atlantic manufacturing backpedals

The Richmond, Va., Federal Reserve Bank said manufacturing activity throttled back in the central Atlantic states in October. The diffuse business index for the region that rose from minus 9 to 4 in September fell back to negative territory in October, the Fed said. In the month, the index gave up 11 points to fall back to minus seven. All of the broad component indicators that make up the diffuse index were negative in the month, the Fed said. The shipments index dropped 18 points to minus nine. New orders dropped 13 points to minus six. The jobs index was steady, but steady at minus five. The backlog of orders gained six points, but came in less than zero at minus three.