The composite manufacturing index in the US Fifth District rose by 13 points from the previous month to -7 in August of 2025, reflecting the softest magnitude of pessimism among factories in the region since March, and firmly above market expectations of -17. The results loosely aligned with other regional Fed surveys in indicating that negative readings may have bottomed this year. New orders (-6 vs -25 in July) fell at a softer pace, driving shipments (-5 vs -18) to follow similar developments amid the softer drop in and backlogs of orders. In turn, capacity utilization returned to the positive territory (1 vs -14). On the price front, price paid increased sharply (7.24 vs 5.65), although prices received rose at a steady rate (3.14 vs 3.16).