Economy
July 28, 2015
Fifth District Manufacturing Activity Growing
Written by Sandy Williams
The Federal Reserve Bank of Richmond released its manufacturing survey for the Fifth District on Tuesday showing moderate expansion in July. Shipments, new orders, and order backlogs all increased during the month. The composite index rose to 13 from 7 in June and 3 in May. The employment indices decreased to 1 while the wages index fell two points to 14.
Inventory levels are dropping with the finished goods index down 6 points to 24 and raw materials inventories at 16 from 23 in June.
