Prior month came in at -8
The Richard Fed manufacturing index for January came in at -2 versus -2 expected. That is up from the -8 reading in the prior month
- Richmond Fed services index comes in at +6 versus +10 in December
- manufacturing shipments -8 versus -25 prior
- employees 19 versus 14
- wages 31 versus 31
- average workweek 3 versus 3
- shipments -8 versus -25 prior
- new order -11 versus -9 prior
- order backlog -21 versus -18 prior
- capacity utilization 3 versus -16 prior
- inventory levels of finished goods slowed to 3 vs 13 last month
- inventories of raw goods rose to 23 versus 15 last month
Although better than the prior month (-8), the index remains below the 0 line that indicates contraction vs growth. It also is the 2nd consecutive month below the 0 line.
