Richmond Fed: Composite manufacturing index rose from 1 in May to 7 in June
|"The composite manufacturing index rose from 1 in May to 7 in June, as the indexes for shipments and new orders increased," announced the Federal Reserve Bank of Richmond.
Key highlights:
- The employment index was relatively flat. Most firms continued to report steady or higher wages; although the index for wages did fall in June, it remained above 0
- More firms reported a decline in the average workweek than reported an increase
- Looking six months ahead, manufacturing executives were more optimistic in June than in May
- Survey responses pointed toward more moderate growth in both prices paid, and prices received
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.