Fifth District manufacturing activity remained sluggish in August, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index edged up from -9 in July to -7 in August. Two of its three component indexes—shipments and new orders—also increased. The shipments index edged up from -6 in July to -5 in August, while the new orders index rose from -20 to -11. However, the third component index—the employment index—fell from 5 in July to -3 in August. Firms grew more optimistic about local business conditions, as the index rose notably to 2 in August. The index for future ... (full story)