Fifth District manufacturing activity deteriorated in July, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index fell to -20 in July from -8 in June, remaining in negative territory. All three of its component indexes fell. Shipments decreased to -18 from -5, new orders dropped to -25 from -12, and employment fell to -16 from -6. The local business conditions index increased to -11 in July. The index for future local business conditions rose to -2 from -7. The future indexes for shipments and new orders increased, with shipments rising to 11 from 6 and new ... (full story)