Manufacturing Activity Slowed in December

Fifth District manufacturing activity slowed in December, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index decreased from -5 in November to -11 in December. Of its three component indexes, shipments fell from -8 to -17, new orders decreased from -5 to -14, and employment edged down from 0 to -1. Firms remained generally pessimistic about local business conditions, as the index edged up but remained in negative territory. The index for future local business conditions was unchanged at -5 in December. Most firms continued to report declining backlogs as ...

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