Factory activity in the U.S. mid-Atlantic region increased “modestly” in April, according to the Manufacturing Business Outlook Survey released on Thursday.
The Philadelphia Federal Reserve Bank said its business activity index rose to 7.5 from 5.0 the month before.
“Indicators for general activity and new orders were positive but remained at low readings,” the Philadelphia Fed said. “Firms reported overall declines in shipments this month, but employment and work hours increased at the reporting firms.”
Economists forecast a reading of 6.0, according to a Reuters poll. Any reading above zero indicates expansion in the region’s manufacturing. The survey covers factories in eastern Pennsylvania, southern New Jersey and Delaware.
It is seen as one of the first monthly indicators of the health of U.S. manufacturing leading up to the national report by the Institute for Supply Management. It follows the Empire State Manufacturing Survey, which was released Wednesday. The New York Fed said manufacturing in the region contracted in April as New York business conditions deteriorated, significantly missing economists’ expectations.
The most damning journalistic sin committed by the media during the era of Russia collusion…
The first ecological study finds mask mandates were not effective at slowing the spread of…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…
Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…
Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…
This website uses cookies.