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US Fifth District Manufacturing Activity Improved in May
Fifth District manufacturing activity improved in May, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index increased to 13 in May from 3 in April. All three of its component indexes rose in May: shipments to 16 from -2, new orders to 17 from 8, and employment to 3 from 0. The future indexes for shipments and new orders increased further into positive territory. The expectations index for employment rose notably to 23 from 7. The local business conditions index decreased to 5 in May from 10 in April. Meanwhile, the future local business conditions index rose ... (full story)