Economy
March 16, 2016
Philadelphia Fed Manufacturing Index Breaks Negative Streak
Written by Sandy Williams
The Philadelphia Fed Manufacturing Business Outlook Survey for March rose sharply to the first positive reading in seven months. The index gained 15.2 points to register 12.4. The index for new orders jumped 21 points to 15.7, returning to growth status, while shipments climbed 20 points.
Both unfilled orders and deliver times improved in March, increasing 11 points and 16 points, respectively. Manufacturing firms reported inventories continuing to decline.
