Highlights of the January 2016 US Richmond Fed manufacturing index 26 January 2016

  • Prior +6
  • Manufacturing shipments -6 vs 0 prior
  • New orders 4 vs 8 prior
  • Prices paid 0.59 vs 0.67 prior
  • Employment 18 unch
  • Services index 10 vs 0 prior

There's some positive signs despite the tepid headline number. Services wages rose to 26 vs 13 in Dec. Retail wages rose to 30 vs 7 prior, revenues were 27 vs -36 prior and retail expectations for the next 6 months rose to 16 from -3

How much of that is seasonality I don't know. We'll find out next month ;-)

US Richmond Fed manufacturing index