Manufacturing activity in the Federal Reserve Bank of Richmond region strengthened in April, according to the monthly business activity survey by the bank.
The manufacturing index doubled to 14 in April from 7 in March.
Index readings above zero show expansion, while numbers below zero indicate contraction.
Shipments soared to 18 from 2, the Fed reported. Volume of new orders grew to 13 from 11.
As for future outlook, the shipments index was 28, up from 26 last month, while the volume of new orders index slid to 29 from 32.
