03:58 PM EST, 01/16/2025 (MT Newswires) -- Manufacturing activity in the US Mid-Atlantic region reached a multi-year high this month as orders swung positive and shipments jumped, a survey from the Federal Reserve Bank of Philadelphia showed Thursday.

The Manufacturing Business Outlook Survey's headline gauge for activity advanced to 44.3 in January from a revised minus 10.9 reading in December, according to the regional Fed. A survey compiled by Bloomberg indicated an improvement to minus 5.

The index grew at its fastest monthly pace since June 2020 and reached its best level since April 2021. New orders and shipments rose sharply and clinched multi-year highs, the Philly Fed said.

Nearly 51% of firms in the Jan. 6-13 survey reported increases in general activity, up from 19% in December, while 7% reported decreases.

The metrics charting new orders advanced 47 points sequentially to 42.9, its highest level since November 2021. Shipments jumped 39 points to a more than four-year high of 41, according to the survey.

The employment gauge more than doubled at 11.9. The gauge for prices paid increased to 31.9 -- its highest since December 2022 -- from 26.6. The selling prices index climbed 24 points to a two-year high of 29.7.

Six months out, expectations for general activity improved to 46.3 in January from 33.8 in December, the Fed branch's report showed. The future new orders and shipment components logged gains.

Employment expectations improved about 8 points to 40.4, its highest reading since December 2021.