US DATA: Jun Richmond Fed mfg text: Manufacturing activity in the
central Atlantic region firmed somewhat in June after stalling in May,
according to the Richmond Fed’s latest survey. The index of overall
activity steadied as a slightly positive reading for new orders coupled
with solid employment growth offset a slightly negative reading for
shipments. Other indicators were mixed, however. District contacts
reported more moderate weakness in backlogs and capacity utilization,
but noted that delivery times and finished goods inventories grew at a
somewhat quicker pace. Looking ahead, manufacturers in June were more
optimistic about their future business. Survey contacts at an increasing
number of firms looked for solid growth in shipments, capacity
utilization, new orders and capital expenditures over the next six mos.”