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 fifth straight month, according to the Richmond Fed’s latest survey. All broad indicators — shipments, new orders and employment — posted solid gains. Other indicators also suggested stronger activity. District contacts reported that backlogs grew at a quicker pace and that growth in capacity utilization was virtually unchanged. Manufacturers reported that delivery times and finished goods inventories grew at a somewhat higher rate.
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Looking ahead, manufacturers in February were more optimistic about their future prospects. Respondents at an increasing number of firms looked for rapid growth in shipments, new orders, backlog of orders, capacity utilization, employment, and the average workweek in the next six months.