US DATA: Nov Rich Fed mfg text says “Manufacturing activity in the
central Atlantic region stabilized in November following four months of
contraction, according to the Richmond Fed’s latest survey. The index of
overall activity steadied as a slightly positive reading for shipments
offset a slight decrease in new orders and a flat reading in employment.
Modest improvement was also evident in most other indicators. District
contacts reported continuing moderate weakness in backlogs, but noted
that capacity utilization edged lower. Delivery times grew at a somewhat
quicker pace, while inventories grew at a slightly slower rate. Looking
forward, manufacturers were generally more optimistic about their
business prospects for the next six months. Contacts at more firms
anticipated that shipments, new orders, backlogs, capacity utilization
and capital expenditures would grow more quickly during the next six
months.”