FYI: With Hurricane Florence crashing into the North Carolina coast earlier this month and the subsequent flooding that followed, a natural question among investors is how would the hurricane the regional economy. North Carolina is part of the Richmond Fed district, so a quick way to asses the damage would be to look at the most recent data from the Richmond Fed Manufacturing report. Below we show the three month average of the Richmond Fed’s manufacturing composite index. This index tends to be very volatile so we’ve smoothed it out a bit, but the September reading was a record at 29. For the states covered by the Richmond Fed (Maryland, Virginia, West Virginia, and the Carolinas), this was the best manufacturing backdrop in the history of the index’s data.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/no-fears-from-florence/
