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The Federal Reserve’s Fifth District manufacturing index fell 9 points in June 2026 to 4, down from 13 in May and below market expectations. The reading signaled broadly flat manufacturing activity in the district, as most key components weakened over the month.
Shipments eased to 3 from 16, and new orders declined to 9 from 17, though both measures remained in positive territory. Inventories of raw materials continued to build, rising to 9 from 5. By contrast, the employment index slipped into negative territory at -1, reversing from 3 in May, indicating a slight contraction in manufacturing employment.
Price pressures intensified. The average growth rate of prices paid increased to 6.99% from 5.96%, while the rate of growth in prices received rose to 4.57% from 4.21%.
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Looking ahead, firms’ expectations for shipments strengthened, with the corresponding index increasing to 38 from 35. However, expectations for new orders and employment softened, with the new orders expectations index declining to 32 from 36 and the employment expectations index falling to 16 from 23.
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