Federal Reserve Bank of Richmond (01/27/15)

Manufacturing activity grew modestly in the Mid-Atlantic states in January, according to the most recent survey by the Federal Reserve Bank of Richmond. Shipments increased at a faster pace this month, while the volume of new orders remained steady. Manufacturing employment and average wages grew at a slower pace this month. The employment index declined from 13 in December to 5 in January. The average wage indicator fell from 8 to 3.