Research >> Economics
Richmond Fed's latest survey activity drops 3 to 23
In June, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — declined three points to 23 from May's reading of 26. Among the index's components, shipments eased one point to 31, new orders dropped 11 points to finish at 25, while the jobs index picked up five points to 9.
Other indicators were also mixed. The backlog of orders measure moved down 13 points to 3, and the index for capacity utilization fell six points to 21. The delivery times index recouped three points to end at 17.
Our gauges for inventories were slightly lower in June. The finished goods inventory index fell two points to 7, and the raw materials inventory index slipped two points to finish at 4.
Posted: June 22, 2010 Tuesday 10:00 AM