Research >> Economics
Richmond Fed's latest survey activity moved up to −2
In January, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — improved slightly, moving up to −2 from December's reading of −4. Among the index's components, shipments picked up four points to −2, and new orders turned positive, gaining five points to finish at 1. However, the jobs index eased three points to end at −5.
Other indicators also varied. The capacity utilization and backlog measures were on par with last month's readings at −3 and −13, respectively, and the delivery times index advanced seven points to end at 5. Our gauges for inventories were slightly lower in January. The finished goods inventory index shed four points to slip back to 10 and the raw materials inventory index trimmed two points to finish at 9.
Posted: January 26, 2010 Tuesday 10:00 AM