US: Manufacturing Activity in the Fifth District Eased Slightly in February

Manufacturing Activity in the Fifth District Eases in February

According to the latest report from the Federal Reserve Bank of Richmond, manufacturing in the Fifth District experienced a moderate slowdown in February. The composite manufacturing index declined to -10, down from -6 in January, reflecting decreases across all major components. Specifically, shipments fell to -13 from -5, new orders edged lower to -9 from -6, and employment slipped to -7 from -6.

Additionally, the index measuring local business conditions dropped to -15 in February, compared to -8 the previous month. However, manufacturers expressed a slightly more optimistic outlook for the future, as the index for expected local business conditions saw a modest increase.