US DATA: Jan KC Fed mfg composite index was 7 in Jan vs 14 in Dec
and 11 in Nov. Text: “Growth in Tenth District manufacturing activity
moderated somewhat in January, but activity was stronger than a year ago
and optimism remained fairly high. Price indexes in the survey were
still elevated, particularly for raw materials. A new headline composite
index was added beginning with the January survey. This index is an
average of the production, new orders, employment, supplier delivery
time, and raw materials inventory indexes. The January survey also
incorporates new seasonal adjustment factors, so historical indexes
differ slightly.”