RICHMOND, Va. -- The Federal Reserve Bank of Richmond said manufacturing-sector growth slowed in its region in July.

The bank said manufacturing prices rose faster in July than in June, and business operators said prices are likely to rise faster in the next six months than they had anticipated in June.

The Richmond Fed, which surveyed 149 companies in the Fifth Federal Reserve District, reported declines in its indexes for shipments, new orders, backlogs, and work week. The employment index rose.

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