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US Manufacturing Activity Slowed in June
Fifth District manufacturing activity slowed in June, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index decreased from 0 in May to -10 in June. Of its three component indexes, shipments fell notably from 13 to -9, new orders decreased from -6 to -17, and employment rose from -6 to -2. Firms grew notably less optimistic about local business conditions, as the index fell from 3 to -15. The index for future local business conditions, however, increased from 6 in May to 10 in June. The future indexes for shipments and new orders remained solidly in positive ... (full story)