Manufacturing firms remained generally upbeat in July - Richmond Fed

"Reports from Fifth District manufacturers improved some in July, according to the latest survey," the Federal Reserve Bank of Richmond said today.

Key quotes:

• The composite index rose from 11 in June to 14 in July — the result of a slight increase in the measures of new orders and employment
• The index for shipments remained at its June reading of 13
• A larger share of firms reported higher wages and longer workweeks in July, as the wages index rose from 10 in June to 17 in July and the average workweek index rose from 1 to 9