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Richmond Fed Mfg Index Drops To Lowest Since April

US DATA
  • The Richmond Fed manufacturing survey surprisingly fell to -11 (cons -3) from -5, its lowest reading since April after three monthly declines.
  • “Of its three component indexes, shipments fell from -8 to -17, new orders decreased from -5 to -14, and employment edged down from 0 to -1.”
  • Average growth rates of prices paid and prices received both increased in December, but it was a mild uplift after the moderation since late 2022 back closer to pre-pandemic levels.

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