Jan 29, 2020 - Economy & Business

Fed manufacturing indexes jump in January

Data: FactSet; Chart: Naema Ahmed/Axios
Data: FactSet; Chart: Naema Ahmed/Axios

The Richmond Fed's January manufacturing survey recorded its highest reading in almost a year and a half on Tuesday.

Why it matters: The survey is considered a potential leading indicator of overall manufacturing because it is released close to month-end and may offer clues on national manufacturing readings like those from ISM and IHS Markit.

The big picture: Each of the Fed's regional manufacturing indexes has beaten expectations this month, suggesting a rebound in the sector may be coming after a very difficult 2019, as experts have predicted.

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