Posted June 28, 2011
Central Atlantic manufacturing picks up
Manufacturing activity in the central Atlantic region firmed somewhat in June after stalling in May, according to the Richmond Fed's latest survey.
The index of overall activity steadied as a slightly positive reading for new orders coupled with solid employment growth offset a slightly negative reading for shipments. Other indicators were mixed, however. District contacts reported more moderate weakness in backlogs and capacity utilization, but noted that delivery times and finished goods inventories grew at a somewhat quicker pace.
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