Financial News: Fifth District Manufacturing Activity Remains Soft Despite

Fifth District Manufacturing Activity Remains Soft Despite Rebound - Richmond Fed

01/28/2025 - 15:46:00 (RTTNews)

(RTTNews) - Manufacturing activity in the Fifth District continued to be sluggish in January though there was an overall recovery that was better than expected, survey data from the Federal Reserve Bank of Richmond showed on Tuesday.

The composite manufacturing index rose to -4 in January from -10 in December. The reading was higher than the -8 economists had forecast, the Fifth District Survey of Manufacturing Activity showed.

Results are based on responses from 63-72 firms that are located within the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.

All three sub-indexes - shipments, new orders and employment - rose in January. However, firms' assessment of the current local business conditions decreased. That said, many firms are looking forward to improvements in the next six months as the future indexes for business conditions, shipments and new orders remained in the positive territory.

Surveyed firms also expect increases in both prices paid and received over the next 12 months.

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