Philadelphia Fed Manufacturing Index improves in January

According to the Manufacturing Business Outlook Survey carried out by the Reserve Bank of Philadelphia, the index, which gauges the current general activity in the sector, rose to -10.6 in the first month of 2024.

Further data saw the indices for New Orders and Shipments at -17.9 and -6.2, respectively, while the Employment index also ticked higher to -1.8 and the Prices Paid index receded to 11.3.