US manufacturing activity improves: Fed
Jun 06, 2013 | 04:27 PM
| Corinna Petry
CHICAGO American manufacturing, drilling and mining activity has improved in spots in the second quarter vs. the first three months of this year, but steel shipments have faltered due to lower demand, customer inventory reductions and weak pricing.
The findings were published June 5 in the Federal Reserve Boards "Beige Book," which surveys each bank districts commercial sources for regional trends.
Steel producers and service centers in the Cleveland district, which stretches east to Pittsburgh, said that shipping volumes were stable but below levels seen early in the first quarter. Several survey respondents were concerned about the amount of steel imports arriving on U.S. shores. ....
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