FXstreet.com (Barcelona) - Manufacturing activity has increased in March from February, supported by the shipments and new orders' increases, despite capacity utilization remained in negative territory, but better than previous month, according to Federal Reserve Bank of Richmond.
Fed Richmond manufacturing index has increased to 6 in March, from - 5 in February, with the shipment sub index jumping to a reading of 13 in March from -4 in the previous month. Capacity utilization picked up to -2 in March from -10 in February. New orders moved up 12 points to 7 and Jobs index held steady at -5.
The orders backlogs index gain 10 points, but it still remains in negative figures at -11, also capacity utilization remain on negative figures, but picked up to -2. The finished goods inventory index gain more four points to 37 in March and raw materials inventory index eased one point to 23.