Economy

Philadelphia Manufacturing Growth Improves in September
Written by Sandy Williams
September 15, 2016
Manufacturing activity improved in the Philadelphia area in September according to the latest manufacturing Business Outlook Survey by the Federal Reserve Bank of Philadelphia. General activity and new orders expanded, surprising economists who expected a flat reading for the month.
The headline index increased 11 points to 12.8, marking the first time the index has had two consecutive positive increases since August 2015. New orders rose from a reading of -7.2 to 1.4 in September, however, shipments declined from 8.4 to -8.8. Delivery times and unfilled orders remained in contraction.
The inventory index registered a sharp decline, falling from -9.2 in August to -26.2 in September.
Employment levels remained weak this month with a negative reading for the ninth consecutive month and further decreases in the average workweek.
Input prices remained unchanged for 71 percent of those surveyed but 23 percent indicated higher prices. The prices paid index rose one point to 20.6. The prices received by firms were relatively unchanged for most firms surveyed in September with the prices received index up 3 points to 9.7.
Firms are optimistic that business conditions will improve over the next six months despite a moderate index decline from 45.8 in August to 37.5 in September. Thirty-four percent of firms expect to expand employment in the next six months.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

ISM September survey captures deepening manufacturing gloom
The Institute for Supply Management’s (ISM) latest monthly report on manufacturing reflects a bleak view of American industry in September.

Key industries concerned over government shutdown’s impact on steel, manufacturing
Trade groups cautioned that a prolonged shutdown could strain US industry.

Chicago Business Barometer catches cold winds of contraction in September
The Chicago Business Barometer's September reading indicates a softening in overall business activity in the Midwest for the third consecutive month, with new orders and backlogs retreating further.

Metalforming market sentiment takes a dive in September: PMA
Metalforming manufacturers anticipate a decrease in near-term conditions, according to the Precision Metalforming Association's (PMA) Business Conditions Report for September.

AIA: Architecture firms still under pressure
Architecture firms reported a modest improvement in billings through August, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.