Manufacturing activity in the Fifth District continued to contract in February, according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, released yesterday.

The manufacturing index improved to negative 5 in February from negative 8 in January. The capacity utilization index narrowed to negative 10 from negative 14, while the vendor lead time index reversed to negative 1 from positive 2. The number of employees index fell to negative 5 from negative 2, while the average workweek index climbed to negative 1 from negative 5, and the wages index held at 12.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.