FXstreet.com (Barcelona) - Manufacturing activity has declined in January from December, weighed by a sharp decline in shipments, and employment and with most of the sub indexes posting declines, according to the latest manufacturing report by the Richmond Federal Reserve.

In January, the manufacturing index has declined to -8, from -4 in December, with the shipments sub index falling to a reading of -17 from -10 in the previous month. New orders moved three points up to -3, and the job index fell to -2 in January from 5 in December.

Other indications suggested weaker activity, The orders backlogs index increased seven points but it still remains in negative figures at -12, the capacity utilization dropped to -14 from -10, the finished goods inventory index increased five points to 28, and the raw material index edged down one point to 11.