Economy
October 16, 2014
Philadelphia Fed Manufacturing Outlook Weakens
Written by Sandy Williams
The Manufacturing Business Outlook published by the Federal Reserve Bank of Philadelphia dropped slightly in October. The index for current activity slipped from 22.5 to 20.7 with 34 percent of respondents reporting an increase in activity while 14 percent reported a decrease.
The current shipments index remained positive although dropping to 16.6 from 21.6 in September. Inventories grew according to manufacturer response; the current inventory index increased 9 points to its highest reading in 10 months.
