Growth in Tenth District manufacturing activity rebounded in May, and producers were more optimistic than in previous months. The majority of producers reported stable or increasing capital spending plans in the next six to twelve months, with very few anticipating a decrease. Most price indexes moderated, although more producers than in April plan to raise selling prices in future months.
Future factory indexes rose solidly after two months of slight moderation. The future composite index increased from 12 to 17, and the future new orders and order backlog indexes also improved. The future production and shipments indexes posted their highest levels since early 2011, and the future employment index inched higher from 15 to 18.
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