RICHMOND, Va., June 26 (UPI) -- The Richmond, Va., Federal Reserve Bank said data showed business activity slowed from growth to contraction in June in the central Atlantic states.
The overall manufacturing index showed business activity shrank after six consecutive months of growth. The composite index, which stood stood at 14 in April, dropped from four in May to minus 3 in June.
Advertisement
The new orders index fell from 1 to minus 12 while the jobs index dropped from 16 to eight.
The finished goods inventories index rose slightly, gaining seven points to 14. The raw materials index also rose, gaining one point to reach 22.