Richmond Fed Manufacturing Index Improves in July

The U.S. manufacturing sector continues to show some improvement signs, as shown by the results of the Federal Reserve Bank of Richmond survey, released on Tuesday.

The Fifth District Survey of Manufacturing Activity’s composite index rose in July to 27 from 26 in June.

The reading shows that manufacturing activity in the Mid-Atlantic region has expanded since July 2020.

The shipments index increased to 21 from 15 in June, while the employment index surged to 36 from 23 last month.

The gauge of expectations for employment improved to 53 from 48.

Meanwhile, the new orders index fell to 25 this month from 36, and so did the index for future shipments, plunging to 41 from 46, and the future new orders index declined to 30 from 35.