Economy
September 16, 2015
Philadelphia Fed Manufacturing Index Surprises to the Downside
Written by Sandy Williams
Manufacturing indicators were mixed in the September Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Philadelphia. The Bank suggests that responses may have been influenced by “volatility in the stock market and international news reports.”
The index for current manufacturing activity unexpectedly dropped from 8.3 in August to -6.0. It was the first time the headline index fell into a negative reading since February 2014. In contrast, demand indicated by the index for new orders showed growth, increasing from 5.8 to 9.4. Shipments were in the positive range but fell two points to 14.8. Input prices remained steady with almost no change in prices received.
