KC Fed Manufacturing index for July comes in at 23 vs 25 est.

Down from 28 last month

The KC Fed Manufacturing index for July comes in at 23 vs 25 est.

• The index is lower vs the 28 level last month
• prices paid 52 versus 47
• new orders 21 versus 27
• production 22 versus 38
• average number of employees 26 versus 24
• average workweek 14 versus 25
• shipments 12 versus 39
• composites six-month outlook falls to 34 versus 36

As per a KC Fed economist:

"Our composite index came down slightly from record highs in recent months. Many firms remain concerned about labor availability and tariffs but optimism is still high"