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May 28, 2013 / 2:34 PM

Central Atlantic business decline slows

RICHMOND, Va., May 28 (UPI) -- The Federal Reserve Bank of Richmond, Va., said Central Atlantic manufacturing pulled back in May, but the pace of decline slowed from April.

The manufacturing index for the region rose from minus 6 to minus 2, with gains in shipments, backlogged orders and capacity utilization, which is how hard factories are going compared with going at full steam.

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The volume of new orders index slid from minus 8 to minus 10. The number of employees index dropped from positive 3 to minus 3. The average number of work hours index slide from minus 3 to minus 6.

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