DVIRC Manufacturing Update
Federal Reserve Bank of Philadelphia Business Outlook Survey Key Points
Manufacturing conditions in the region “continued to weaken” in November
Philadelphia Fed Manufacturing Business Outlook Survey
Manufacturing conditions in the region showed slight improvement this month, according to firms responding to the November Manufacturing Business Outlook Survey. The indicator for general activity was slightly positive this month, following two months in negative territory. Indexes for new orders and shipments remained negative, although they increased from lower readings in October. Firms reported slight increases in overall employment this month but declines in average work hours. Manufactured goods prices were near steady. The survey’s future indicators showed improvement. Only a small percentage of firms expect a downturn in business activity over the next six months.
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