According to the Manufacturing Business Outlook Survey carried out by the Reserve Bank of Philadelphia, the index, which gauges the current general activity in the sector, rose to -10.6 in the first month of 2024.

Further data saw the indices for New Orders and Shipments at -17.9 and -6.2, respectively, while the Employment index also ticked higher to -1.8 and the Prices Paid index receded to 11.3.