Mid-Atlantic manufacturing activity rebounded in January, according to the Federal Reserve Bank of Richmond. The composite index rose from -5 in December to 20 in January, as all three components—shipments, new orders, and employment—increased. Local business conditions also improved as this index saw its largest increase since February 2013. Manufacturers were optimistic that conditions would continue to strengthen in the coming months.

Both employment and wages rose in January. However, firms continued to struggle to find workers with the necessary skills. They expected this difficulty to persist but wages and employment to continue to grow in the next six months.