• Prior month -9
• Richmond Fed composite index for June -7 versus -10 estimate
• Services index -4 versus -11 last month
• Shipments -3 versus -10 last month

Details from the Richmond Fed report:

• Composite manufacturing index rose slightly to -7 in June from -9 in May, still in negative territory.

• Shipments index improved to -3 and new orders rose to -12.

• Employment index declined to -5 from -2.

• Local business conditions index remained negative but improved from -25 to -20.

• Future local business conditions deteriorated to -11 from -6.

• Future shipments index increased from 2 to 4.

• Future new orders index rose from -3 to 5.

• Vendor lead time index increased to 16.

• Backlog of orders index declined slightly from -19 to -20.

• Prices paid and received growth rates rose in June.

• Firms expect prices paid growth to moderate and prices received growth to increase over the next 12 months.

This article was written by Greg Michalowski at www.forexlive.com.