South By North Strategies, Ltd.

From the Federal Reserve Bank of Richmond’s January survey of manufacturing activity in the South Atlantic (District of Columbia, Maryland, North Carolina, South Carolina, Virginia and West Virginia):

Manufacturing activity in the central Atlantic region contracted at a less pronounced rate in January, according to the Richmond Fed’s latest survey. The index of overall activity edged up a bit as growth in new orders turned slightly positive. Growth in shipments contracted at a somewhat slower pace, while employment contracted at a slightly quicker rate. Other indicators were also mixed. The pace of decreasing backlogs and capacity utilization were on par with December, while vendor delivery times increased. In addition, manufacturers reported slightly slower growth in inventories.
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Looking forward, assessments of business prospects for the next six months were generally in line with last month. Firms anticipated that their shipments, new orders, backlogs, and capacity utilization would grow more rapidly in the months ahead.