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)