Fifth District manufacturing activity was mostly unchanged in January, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index inched up to -6 in January from -7 in December. Two of its three component indexes increased in January. Shipments increased to -5 from -11, new orders increased slightly to -6 from -8, while employment decreased to -6 from -1. The local business conditions index was nearly unchanged at -8 in January. Meanwhile, expectations for local business conditions improved as the index for future local business conditions increased slightly to 19 ... (full story)