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US Manufacturing Activity Worsened in July
Fifth District manufacturing activity worsened in July, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index decreased from -10 in June to -17 in July. Of its three component indexes, shipments fell notably from -9 to -21, new orders decreased from -16 to -23, and employment edged down from -2 to -5. Firms grew less optimistic about local business conditions, as the index fell from -13 to -21. The index for future local business conditions edged down from 9 to 7 in July. The future indexes for shipments and new orders remained solidly in positive territory, ... (full story)
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