10:10 AM EDT, 07/22/2025 (MT Newswires) -- The Richmond Fed's monthly manufacturing index fell to a reading of minus 20 in July from minus 8 in June, compared with expectations for an increase to minus 2 reading in a survey compiled by Bloomberg as of 7:40 am ET, suggesting a faster pace of contraction.

In contrast, the Empire State and Philadelphia Fed manufacturing readings already released pointed to expansion in the sector.

Released at the same time, the services revenue index increased to 2 in July from minus 1 in June, indicating a return to expansion. The New York and Philadelphia services readings already released indicated slower paces of contraction in the month.