Fifth District manufacturing activity changed little in April, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index inched up to 3 in April from 0 in March. Two of its three component indexes rose in April: new orders to 8 from 4 and employment to 0 from -2. Meanwhile, the shipments index was unchanged at -2 in April. The local business conditions index increased to 10 in April from -5 in March. Meanwhile, the future local business conditions index decreased to 3 from 16. The future indexes for shipments and new orders also decreased slightly but remained ... (full story)