US Richmond Fed Manufacturing Index Improves is January

Manufacturing activity in the U.S. Mid-Atlantic states improved to -49 reading in January, a rebound from last month's record low reading of -55. Sub components of this index rosed like Shipments increased to a reading -54, while the new orders component rose 16 points to -50. The employment index held steady at -40. Capacity utilization climbed to -46 while the orders backlog increased 18 points to -41.

(The monthly Richmond Fed Manufacturing Index is a gauge of broad activity of manufacturers based in the Carolinas, the District of Columbia, Maryland, Virginia and West Virginia. It is a composite index representing a weighted average of the shipments, new orders and employment indexes.)