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Manufacturing Activity Remained Sluggish in July
Fifth District manufacturing activity remained sluggish in July, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index edged down from -8 in June to -9 in July. Two of its three component indexes —shipments and new orders—also fell slightly. The shipments index edged down from -5 in June to -6 in July, while the new orders index fell from -16 to -20. The employment index, however, rose from -1 in June to 5 in July. Firms remained somewhat pessimistic about local business conditions, as the index registered -9 in July. The index for future local business ... (full story)