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Fifth District Survey of Manufacturing Activity
Fifth District manufacturing activity remained sluggish in January, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index decreased from -11 in December to -15 in January. Of its three component indexes, shipments edged up from -17 to -15, new orders edged down from -14 to -16, and employment fell notably, from -1 to -15. Firms remained somewhat pessimistic about local business conditions, as the index increased slightly but remained in negative territory. The index for future local business conditions increased from -5 in December to 0 in January. Most firms ... (full story)