The Richmond Fed Manufacturing Index jumped 10 pts to 6, the highest in over a year and above expectations of a -3 reading.

• Shipments and New Orders both turned from declining, -9 and -4, to positive or flat, at 12 and 0 respectively.
• Despite that, backlogs and capacity utilization were unchanged a slightly declining.
• CapEx and Equipment & Software Spending were both unchanged.
• Employment has moved to a moderate increase, with that index up 6 pts to 9.
• Prices Paid increased 2.23% YoY (prev 2.37% YoY), and Prices Received accelerated to 1.62% YoY (prev 1.21% YoY).
• Manufacturing firms expect their cost growth over the next 12 months to accelerate to 4.64%, up from 4.08%.