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First Trust RBA American Industrial Renaissance ET
The Richmond Fed’s manufacturing survey was released this morning, showing a modest improvement in conditions in the month of April.
The headline number rose by a point to 14, which is still in the middle of the pandemic range of readings and the highest level since December.
In spite of the improvement in the composite index - a weighted average of shipments, new orders, and employment - the breadth of this month’s report was negative, with over half of the categories declining month over month.