Two barometers of manufacturing activity in different regions of the country reported good news for manufacturing.
The Chicago Fed Midwest Manufacturing Index released today showed an increase of 1.1% in June, to a seasonally adjusted level of 94.1. Production in all four regional sectors increased in June.
Meanwhile, the Texas Manufacturing Outlook Survey indicated that Texas factory activity continued to increase in July. The production index, a key measure of state manufacturing conditions, fell from 15.5 to 12, suggesting slightly slower output growth.
Click here for the latest results from other regional surveys of manufacturing activity reported by the Federal Reserve.