Economy
Philadelphia Fed Manufacturing Index Edges Down in September
Written by Sandy Williams
September 18, 2014
The Philadelphia Fed Manufacturing Business Outlook Survey registered a drop of 5.5 points to 22.5 in September after recording its highest reading since March 2011 at 28.0 in August.
Orders and shipments increased by 1 and 5 points, respectively, while indexes for unfilled orders and delivery times were positive for the month.
Input prices were slightly higher than reported in August. The prices paid index increased 2 points and the prices received index edged up 4.2 points.
The summary from the report reads as follows:
“The September Manufacturing Business Outlook Survey suggests continued expansion of the region’s manufacturing sector. Firms reported continued increase in overall activity, new orders, shipments and employment this month. The survey’s future activity indexes remained at high readings, suggesting continued optimism about manufacturing growth. Firms were more optimistic about employment increases over the next six months.”
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.
Multi-family pullback drives housing starts to 5-year low in May
US housing starts tumbled in May to a five-year low, according to figures recently released by the US Census Bureau.
Architecture firms still struggling, ABI data shows
Architecture firms reported a modest improvement in billings through May, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.
Manufacturing in New York state contracts again
However, companies are growing more optimistic about the future.