US DATA: June Empire text: “indicates that manufacturing activity
expanded slightly over the month. The general business conditions index
fell fifteen points, but remained positive at 2.3. The new orders index
declined six points to 2.2, and the shipments index fell a steep
nineteen points to 4.8. Price indexes were markedly lower, with the
prices paid index falling eighteen points to 19.6 and the prices
received index dropping eleven points to 1.0. Employment indexes also
retreated, though they still indicated a small increase in employment
levels and a slightly longer average workweek. Indexes for the six-month
outlook were generally lower than last months levels, suggesting that
optimism was waning somewhat, with the future general business
conditions index falling to 23.1, its fifth consecutive monthly decline.
In a series of supplementary questions, manufacturers were asked about
their capital spending plans: 43 percent said that they expected to
increase capital spending over the next six to twelve months, while just
16 percent planned reductions.”
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