- Richmond Fed manufacturing composite index 0 vs -13 estimate and -9 (revised from -11) last month. That was the highest level since April
- services index -13 vs. 0 last month
- shipments +7 vs. -15 last month
- new orders -10 vs. -20 last month
- employment 8 vs. 16 last month
- local business conditions -13 vs -32 last month
- lender lead time 0 vs. 9 last month
- capacity utilization -7 vs. -9 last month
- backlog of orders -15 vs. -15 last month
- capital expenditures 14 vs. 10 last month
- finished goods inventories 0 vs. -3 last month
- raw material inventories 3 vs. -7 last month
- equipment and software spending 14 vs. 16 last month
- wages 30 vs. 37 last month
- availability of skills needed -19 vs. -12 last month
- Conditions in the next 6 months -10 vs -28 last month
- prices paid 12.49 vs. 12.88 last month
- prices received a .92 vs. 10.31 last month
Re: prices expectations of the next 6 months:
- prices paid 6.29 vs. 5.77 last month
- prices received 4.46 vs. 4.86 last month
From the Richmond Fed:
- The composite manufacturing index rose from -9 in June to 0 in July, as two of its three component indexes showed marked improvement. The indexes for shipments and volume of new orders rallied from -17 and -20 in June to 7 and -10 in July, respectively. The third component, the employment index, fell to 8 in July from 16 in June.
- The wage index remained elevated, despite a downward shift, indicating that a large share of firms continues to report increasing wages.
- Firms were also more optimistic about conditions in the next six months as the expectations index increased to -10 in July from -28 in June.
- There was further indication of supply chain relief as the index for vendor lead time decreased again in July and the indexes for raw materials and finished goods inventories increased.
- The average growth rate of prices paid and prices received decreased in July.