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The current production index declined to -0.1 as the current volume of new orders index remained firmly in contraction for a third consecutive month at -9.3 and the current employment index declined to -5.1.
These results are effectively confirm other regional measures of manufacturing activity (Philly Fed, Empire state, ISM PMI, etc.) which, taken as a whole, now clearly indicate that nationwide manufacturing activity has slowed significantly in the last several months.