News release: “Regional manufacturing activity remained weak in July, according to the respondents to the Business Outlook Survey. The survey’s indicators for activity and new orders, which had turned negative in June, recovered somewhat but are at very low positive readings. The diffusion index of current activity increased to 3.2 in July from -7.7 in June. The broadest indicator of future activity rebounded to 23.7 this month from 2.5 in June. Firms indicated that, in July, employment grew modestly while the average workweek lessened. Indexes for prices show a continuing trend of moderating price pressures.”