Economy
January 15, 2015
Philadelphia Fed Manufacturing Index Tumbles
Written by Sandy Williams
The current activity index of the Philadelphia Manufacturing Business Outlook Survey dropped 18 points to register 6.3 in January, widely missing economic estimates of 18.7 for the month. The decrease indicates slower growth and was accompanied by a drop in new orders and shipments. The shipments index registered a negative reading, falling 22 points to -6.9. Any reading over zero indicates expansion.
More firms reported a decrease in employee levels than increase in January. The employment level index fell 10 points to -2.0
