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Friday, November 8, 2024
HomeNewsEconomyManufacturing Business Outlook Survey Contracts in July

Manufacturing Business Outlook Survey Contracts in July

mid-atlantic-manufacturing-aluminium-raw-materials-reuters
mid-atlantic-manufacturing-aluminium-raw-materials-reuters

A worker in the mid-Atlantic manufacturing sector works with raw aluminum materials. (PHOTO: REUTERS)

The Manufacturing Business Outlook Survey, the Philadelphia Federal Reserve’s gauge of factory activity in the Mid-Atlantic region contracted to negative 2.9 in July from a weak positive reading of 4.7 the month prior.

The median forecast on Wall Street called for a reading of 5.00. A reading above zero indicates expansion.

Manufacturing Business Outlook Survey (Source:  Philadelphia Federal Reserve Bank)

Manufacturing Business Outlook Survey (Source: Philadelphia Federal Reserve Bank)

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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.

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