Connect With PPD
Follow Us:
Sections: Economy

Mid-Atlantic Manufacturing Activity Increased ‘Modestly’ In April

(Photo: Reuters)

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.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

3 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

3 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.