FX.co ★ 5th District Manufacturing Slows Decline

The Federal Reserve's Fifth District manufacturing index increased to -7 in December 2025, up from -15 in November, aligning with market predictions. The current survey indicated a decrease in shipment declines (-11 compared to -14 in November), thanks to an enhancement in new orders from firms (-8 versus -22). This led to a more gradual reduction in order backlogs (-7 versus -23). Meanwhile, the decline in employment was nearly offset (-1 compared to -7), despite wages continuing to escalate considerably (24, unchanged from 24). Looking forward, there were noted improvements in the outlook for new orders, with forecasts rising to 28 from 25 and to 27 from 26.