Richmond Fed business index falls in October

WASHINGTON (MarketWatch)
The Richmond Fed's index of manufacturing activity fell in October to -7 from 4 in September, the bank said Tuesday
The decline is another sign of broader weakness in the U.S. manufacturing sector since the end of spring
Most of the index's components decreased, including new orders and shipments
The new-orders gauge sank 13 points to -6 and shipments retreated 18 points to -9
The employment index held steady at -5
Numbers below zero indicate contraction
The Richmond Fed covers a region stretching from Maryland to South Carolina and extending out to most of West Virginia