The Federal Reserve's Fifth District manufacturing index rose to -7 in December of 2025 from -15 in the previous month, in line with market expectations. The decline in the current survey for shipments softened (-11 vs -14 in November) amid an improvement in firms' new orders (-8 vs -22), allowing for a slower depletion of order backlogs (-7 vs .23. In the meantime, the drop in employment was nearly erased (-1 vs -7), although wages continued to expand sharply (24 vs 24). Looking ahead, improvements were noted in the outlook of new orders (28 vs 25) and new orders (27 vs 26).