June Richmond Fed Index Still in Record Territory
"Manufacturing activity in the central Atlantic region expanded for the fifth consecutive month, according to the Richmond Fed’s latest survey. Looking at the main components of activity, shipments were virtually unchanged, while employment grew at a modest pace, and new orders grew more slowly. Other indicators varied."
MP: Despite the 3-point drop from the all-time high of 26 in May to 23 in June (a "skid" in manufacturing activity according to this report), Richmond regional manufacturing in June is at the second-highest level in the history of the index back to January 1994.