US: Manufacturing Activity in the Fifth District Remained Largely Stable in January
January Manufacturing Update: Fifth District Remains Steady
According to the latest report from the Federal Reserve Bank of Richmond, manufacturing activity in the Fifth District showed little change in January. The composite manufacturing index edged up slightly to -6, compared to -7 in December.
Among the index’s key components, shipments improved to -5 from the previous -11, and new orders saw a modest rise to -6 from -8. However, employment figures slipped, dropping to -6 from -1.
Local business conditions remained relatively stable, with the index holding at -8 for January. Looking ahead, optimism increased as the index measuring expectations for future local business conditions ticked up to 19.
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