The Federal Reserve’s Fifth District manufacturing index showed no improvement in October, holding at -2 for a second consecutive month. The reading was its lowest since February, compared with forecasts for a rise to zero. The new orders index fell to -8 in October from -6 in September, while the employment index declined to 3 from 7. In contrast, the shipments index improved to zero from -5. Looking ahead, firms remained optimistic about shipments and new orders, with both future indexes in positive territory. However, employment expectations were unchanged at 8, while the future local business conditions index slipped to 7 from 10. The current conditions index also weakened, falling to -8 from -6. On prices, the average growth rate of prices paid was unchanged from September, while prices received increased at a faster pace. Over the next 12 months, firms expect growth in both prices paid and prices received to moderate.