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Richmond Fed's latest survey continues improvement to 6
In June, the seasonally adjusted manufacturing index — our broadest measure of manufacturing activity — jumped to 6 from May's reading of 4. Among the index's components, shipments lost seven points to 2, new orders rose six points to finish at 16, and the jobs index advanced six points to end at −6.
Other indicators also suggested somewhat stronger activity. The orders backlogs index turned positive, gaining 11 points to 8, while the measure for delivery times picked up four points to 0. The capacity utilization index edged higher, adding two points to 7, while our gauges for inventories were mixed. The finished goods inventory index moved up five points to 40, but the raw materials inventory index trimmed three points to 18.
Posted: June 23, 2009 Tuesday 10:00 AM