Manufacturing & The Economy
Reports from the twelve Federal Reserve Districts suggest that national economic activity continued to expand at a modest to moderate pace during the reporting period of September through early October. Eight Districts reported similar growth rates in economic activity as during the previous reporting period, while growth slowed some in the Philadelphia, Richmond, Chicago, and Kansas City Districts. Contacts across Districts generally remained cautiously optimistic in their outlook for future economic activity, although many also noted an increase in uncertainty due largely to the federal government shutdown and debt ceiling debate.
Overall, manufacturing activity expanded modestly in September, but with some notable exceptions among the Districts. Cleveland, St. Louis, and Minneapolis experienced faster growth, while New York, Richmond, and Chicago saw growth weaken.