Kansas Fed: Manufacturing activity expanded further with strong expectations for future activity

"Tenth District manufacturing activity expanded further in June, and expectations for future activity remained strong while price indexes were mixed, with some increases in raw materials prices," said the Federal Reserve Bank of Kansas City on Thursday.

Key highlights:

• The month-over-month composite index was 11 in June, up from 8 in May and 7 in April
• The production index jumped from -1 to 23, and the shipments and employment indexes also increased
• The new orders index eased from 9 to 4, and the order backlog index fell into negative territory
• The composite year-over-year index rose from 18 to 28, its highest level since June 2011, and the production, shipment, and new orders indexes also increased moderately