Fifth District manufacturing activity declined in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index dropped to -15 in November from -4 in October. Two of its three component indexes decreased. The shipments index fell notably to -14 from 4 and new orders decreased to -22 from -6. Meanwhile, the employment index increased slightly to -7 from -10. The local business conditions index dropped to -20 in November from -1 in October. Meanwhile, expectations for local business conditions improved as the index for future local business conditions ... (full story)