According to the Federal Reserve Bank of NY’s Empire State Manufacturing Survey, “manufacturing activity grew solidly in…the June survey, though at a slower pace than seen in the past few months.” The Index fell -6.9 points to 17.4 (a reading above 0.0 indicates expansion) driven by New Orders (-12.6 to 16.3), Shipments (-15.5 to 14.2) and Unfilled Orders (-13.5 to 7.9). Manufacturers’ confidence in the six-month outlook grew in June, too, as the future business conditions index rose +11.1 points to 47.7. See the full report here.
