The Fifth District Manufacturing Index rose to -7 in June from -9 in May, indicating continued contraction in activity but at a slower pace.

• Shipments improved to -3 (from -10) and New Orders to -12 (from -14), while Backlogs edged down to -20 (from -19).
• Employment declined slightly to -5 (from -2) and Local Business Conditions remained weak at -20 (from -25).
• Vendor Lead Times ticked up to 16 (from 15), while Raw Materials Inventories jumped to 28 (from 18).

• Prices Paid increased to 6.10% (from 5.35%), while Prices Received rose to 3.57% (from 2.73%).
• Price expectations over the next 12 months eased for Prices Paid (5.21% from 6.75%) but rose for Prices Received (3.91% from 2.65%).