RICHMOND, Va., Dec. 27 (UPI) -- The Richmond, Va., Federal Reserve Bank said business activity in the Central Atlantic states picked up slightly in December.
The overall index rose from 0 to 3 in the month, just above pivot point between contraction and growth.
The shipments index rose from 1 to 3, while the index for new orders rose from minus 2 to minus 7.
The critical employment index measuring the number of employees moved lower by 4 points to minus 4. The index on wages was flat, remaining at 10 while the index measuring average work hours rose 3 points to 3.
The survey showed respondents remain confident about business six months down the road.
The index for expected shipments fell 9 points to 27 while expectations of new orders fell 16 points to reach 21, a predictable drop following the holidays.
