(CercleFinance.com) – The expansion of manufacturing activity in the Philadelphia region weakened in May, according to the local Fed, whose general index fell by 11 points to settle at 4.5 in May, largely reversing last month’s rise.
More than 29% of businesses reported an increase in general activity this month (up from 38% last month), while 25% reported a decrease (up from 22%) and 46% reported no change (compared to 40%).
Indicators for new orders and deliveries have turned negative, while the employment indicator suggests a decline in employment overall. However, businesses continue to expect growth over the next six months.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
