The Kansas City Fed’s January manufacturing survey came in at 5.
Consensus was for a reading of 2, versus a prior reading of -3.
That was the first decline in 5 months — here’s the chart going back one year.
The employment index hit its highest level since October 2011.
“We were encouraged to see overall regional factory activity grow in January after dropping last month, said Chad Wilkerson, vice president and economist at the KC Fed. “Production fell slightly in January, which many firms again attributed to weather-related delays, but orders rose and optimism about the future increased.”