This Week: Fed manufacturing index, pending home sales, Chicago business barometer

The Federal Reserve Bank of Richmond issues its monthly manufacturing activity index Wednesday

A look at some of the key business events and economic indicators upcoming this week

EYE ON MANUFACTURING

The Federal Reserve Bank of Richmond issues its monthly manufacturing activity index Wednesday.

The index represents a weighted average of the shipments, new orders and employment indexes covering the bank’s district, which encompasses several states, including Maryland, North Carolina and Virginia. Economists expect December’s reading improved to -4 from -5 in November. The index can range between +100 and -100. Readings above zero indicate expansion in manufacturing activity.

Richmond Fed Manufacturing Index, monthly.