Southern central US manufacturing posts modest gain

Manufacturing in the southern central states pulled into positive territory in July, the Kansas City Federal Reserve Bank said Thursday. The manufacturing index for the Fed's 10th District -- which includes Kansas, Oklahoma, Colorado, Wyoming, Nebraska and parts of Missouri and New Mexico -- rose from minus 5 in June to 6 in July, the Fed said. The production index rose sharply, climbing from minus 17 to 21, the highest level since June 2011. In addition, shipments and new orders rose, although the order backlog index slipped from minus 4 to minus 7. The central bank for the 10th Federal Reserve District said the composite outlook index remained positive, but "eased from 12 [in June] to 7 [in July]."