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February Mid-Atlantic Manufacturing Activity Enters Growth Territory
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February Mid-Atlantic Manufacturing Activity Enters Growth Territory
Feb 25, 2025 1:22 PM

03:51 PM EST, 02/25/2025 (MT Newswires) -- Manufacturing activity in the US Mid-Atlantic region improved more than projected into growth territory this month, data from the Federal Reserve Bank of Richmond showed Tuesday.

The composite index rebounded to 6 in February from minus 4 in January. The consensus was for a one-point improvement to a minus 3 level, according to a survey compiled by Bloomberg. The latest data showed that Fifth district manufacturing activity "improved somewhat," the Fed branch said.

The gauge for shipments swung to 12 from minus 9 in January, while new orders improved to zero from minus 4. The gauge measuring the number of employees reached 9 in February from 3 the month prior, the regional Fed's data showed.

The average growth rate of prices paid edged down over the last 12 months, while the rate of selling prices rose, the Fed branch said.

Six months out, the index for new orders plunged to 8 this month from 31 in January, while the metric charting future shipments declined to 13 from 32. The gauge for future local business conditions plunged to 2 from 32.

The forward-looking employment index declined to 1 in February from January's 12. Over the next 12 months, firms expect growth in both prices paid and received to accelerate, according to the report.

On Monday, the Dallas Fed reported that Texas manufacturing activity fell more sharply than expected and into contraction territory this month as executes cited rising uncertainty around tariffs. Data from the Philadelphia Fed last week showed that activity in its part of the Mid-Atlantic region more-than-halved but remained in growth territory in February.

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