Fifth District manufacturing activity was flat in June, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index decreased to 4 in June from 13 in May. All three of its component indexes fell in June, although both shipments and new orders remained in positive territory. Shipments fell to 3 from 16, new orders to 9 from 17, and employment to -1 from 3. The future indexes for shipments and new orders remained notably high and firmly in positive territory. The expectations index for employment decreased to 16 from 23 in June. The local business conditions index ... (full story)