Index Experiences Accelerating Contraction
September Finishing Index is 46.4, posting a third month of contracting activity.
Historically, employment readings tend to lag behind other measures of business activity as shops are often hesitant to release quality laborers. For this reason, employment readings also tend to experience more modest swings as compared to other components. Recent employment data have challenged this trend as employment activity has experienced a sharp contraction that is more comparable to the more sensitive measures of the Business Index.
Total new orders registered ‘no change’ at the same time that export orders were reported as more quickly contracting. The combination of these events suggests that domestic orders rose by the same level as exports orders fell in order to bring the total to a reading of 50. Through September, exports have reported 15 consecutive months of contracting or unchanging activity levels.
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