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Richmond Fed Sept Manufacturing Shipments Index 3 Versus 13 In Aug
NEW YORK -(Dow Jones)- Economic activity in the Richmond region declined in September, the Federal Reserve Bank Of Richmond reported Tuesday.
The bank`s manufacturing shipments index, a broad gauge of the manufacturing sector`s health, declined to a reading of 3 in September, down from 13 in August.
The bank`s service sector revenues index slipped to a reading of minus-14, down from a reading of minus-4 in August.
Many service-sector businesses "said they were at a near standstill immediately following the terrorist events of Sept. 11," with the attacks on New York and Washington, the Richmond Fed said in its report.