US: Fed Richmond manufacturing index improves in June

The Richmond Fed’s US manufacturing index improved to -7 points in June, from -15 in May. Analysts had expected a smaller increase, to -12 points.

This survey, conducted on a monthly basis by the Federal Reserve Bank of Richmond, tracks the sentiment of 100 manufacturers in the Fed district that includes Virginia, Maryland, North and South Carolina, the District of Columbia and much of West Virginia.

A value greater than zero indicates an improvement, while a figure below indicates a deterioration. In this case, the sentiment therefore remains negative, but to a lesser extent than in the previous month.