A worker installs parts onto the dashboard for the new Chevrolet Cruze car as it moves along the assembly line at the General Motors Cruze assembly plant in Lordstown, Ohio July 22, 2011. (Photo: Reuters)
The Richmond Fed Manufacturing Index showed factory activity in the Fifth district bounced back in June and expanded for the eighth consecutive month. The Richmond Federal Reserve index came to a strong 7, up from 1 in May.
Manufacturing executives were more optimistic in June than in May about the next six months, though they were very positive in May. Only two indexes surrounding expected activity fell. The capital expenditures index fell from 34 in May to 26 in June and the expected shipments metric ticked down from 39 to 38.
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