(CercleFinance.com) – Manufacturing activity is picking up in the Philadelphia area, given the general conditions index calculated by the local Fed, which rose from -13.5 last month to +12 this month- ci, its first positive reading since August 2022.
In detail, the new orders index – which had been negative for 14 consecutive months – climbed 32 points to +16, while the shipments index rose 18 points to +5.7.
Businesses continued to report overall price increases and an overall decline in employment. Future indices from the survey suggest less widespread growth expectations over the next six months.
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