South By North Strategies, Ltd.

From the Federal Reserve Bank of Richmond’s latest 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 expanded for the fourth straight month, according to the Richmond Fed’s latest survey. Looking at the main components of the overall index, shipments and new orders grew more slowly, while employment growth held steady. Other indicators varied but suggested continued solid activity. Manufacturers reported that backlogs grew at a slightly slower pace and that increases in capacity utilization and delivery times eased somewhat, while finished goods inventories grew at a somewhat slower rate.
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Looking forward, manufacturers’ optimism remained in place in January. Survey contacts at more firms looked for steady growth in shipments, new orders, backlog of orders, and capacity utilization in the next six months.