“Manufacturing activity in the central Atlantic region contracted at a less pronounced rate this month,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond. In addition, sentiment about future prospects was steady.
The manufacturing index improved to negative 20 in March from negative 51 in February. Shipments narrowed to negative 15 from negative 56, the Fed reported.
As for future outlook (six months from now), the shipments index was 24, up from 21 last month, while the volume of new orders index grew to 22 from 14.
