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Manufacturing Business Outlook Survey: Mid-Atlantic Manufacturing Picks Up in December

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, increased to 21.5 in December. That’s up from a reading of 7.6 the month prior and significantly higher than the median forecast calling for a reading of 9.

A reading above zero indicates expansion, while those below indicate contraction.

As was the cast with the Empire State Manufacturing Survey released earlier today, manufacturers are far more optimistic about the future than they are about current conditions, particularly the next six months. Nearly 58% of the firms anticipate gains in manufacturing activity over the next six months, compared with 36% last month.

Special Question (December 2016)

1. What percentage change in costs do you expect for the following categories in 2017?
Energy
(%)
Other Raw Materials
(%)
Intermediate Goods
(%)
Wages
(%)
Health Benefits
(%)
Nonhealth Benefits
(%)
Wages & Health Benefits & Nonhealth Benefits
(%)
Decline of more than 4% 5.0 0.0 0.0 0.0 0.0 0.0 0.0
Decline of 3-4% 0.0 0.0 0.0 0.0 1.7 0.0 0.0
Decline of 2-3% 1.7 0.0 0.0 0.0 1.7 1.7 1.7
Decline of 1-2% 8.3 3.3 0.0 1.7 3.3 1.7 0.0
No Change 36.7 21.7 22.0 8.3 8.3 32.8 1.7
Increase of 1-2% 10.0 13.3 30.5 15.0 1.7 13.8 6.8
Increase of 2-3% 16.7 26.7 27.1 58.3 5.0 19.0 16.9
Increase of 3-4% 11.7 20.0 11.9 16.7 8.3 19.0 25.4
Increase of 4-5% 8.3 1.7 6.8 0.0 8.3 5.2 15.3
Increase of 5-7.5% 0.0 5.0 0.0 0.0 16.7 3.4 8.5
Increase of 7.5-10% 0.0 6.7 1.7 0.0 10.0 0.0 11.9
Increase of 10-12.5% 1.7 1.7 0.0 0.0 13.3 0.0 5.1
Increase of 12.5-15% 0.0 0.0 0.0 0.0 8.3 0.0 1.7
Increase of 15-20% 0.0 0.0 0.0 0.0 5.0 1.7 3.4
Increase of more than 20% 0.0 0.0 0.0 0.0 8.3 1.7 1.7
Median 0.0 2.5 1.5 2.5 6.3 2.0 3.5
Average 1.1 2.7 2.0 2.2 7.9 2.4 5.4

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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.

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