Research >> Economics
Richmond Fed's latest survey activity moved up to 2
In February, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — turned positive, moving up to 2 from January's reading of −2. Among the index's components, shipments picked up two points to 0, and new orders gained eight points to finish at 9. However, the jobs index slipped two points to end at −7.
Other indicators also varied. The backlog of orders measure jumped 13 points to 0, while the index for capacity utilization held steady at −3. The delivery times index dropped three points to end at 2. Our gauges for inventories were mixed in February. The finished goods inventory index picked up three points to 13 and the raw materials inventory index slipped back four points to finish at 5.
Posted: February 23, 2010 Tuesday 10:00 AM