The Richmond Fed’s manufacturing index hit 12, the best reading since March 2011.
Expectations were for a reading of 6, compared with a reading of 7 in July.
Manufacturing employment climbed, and managers said they expect a pick-up in hiring in the coming months.
The outlook for expected shipments finished 12 points above last month’s reading, while expectations for new orders jumped seven points.
New orders and shipments growth was flat.
Here’s what the data now look like:
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