Manufacturing in central Atlantic states show rise for the third consecutive month

Manufacturing in central Atlantic states show rise for the third consecutive monthManufacturing in the central Atlantic states rose for the third consecutive month, the Richmond, Va., Federal Reserve Bank said.

Manufacturing activity rose "at a solid pace" and expectations in the area remain "upbeat," said the Richmond Fed.

The broadest index in the monthly report, the seasonally adjusted composite index of manufacturing activity, "jumped 24 points to 30 from March's reading of 6."

The report also said that the shipments index rose from 5 to 30, while the new orders index jumped from 31 points to 41 points.

It was further reported that in the critical index composite of employment, the average workweek index leaped from zero to 16 and the wage index turned positive, climbing from minus 3 to 6. (With Inputs from Agencies)