Economy
September 15, 2016
Philadelphia Manufacturing Growth Improves in September
Written by Sandy Williams
Manufacturing activity improved in the Philadelphia area in September according to the latest manufacturing Business Outlook Survey by the Federal Reserve Bank of Philadelphia. General activity and new orders expanded, surprising economists who expected a flat reading for the month.
The headline index increased 11 points to 12.8, marking the first time the index has had two consecutive positive increases since August 2015. New orders rose from a reading of -7.2 to 1.4 in September, however, shipments declined from 8.4 to -8.8. Delivery times and unfilled orders remained in contraction.
