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- Philadelphia-area manufacturing activity continues to expand in November but at slower pace
Philadelphia-area manufacturing activity continues to expand in November but at slower pace
The
Manufacturing Business Outlook Survey, released by the Federal Reserve Bank of
Philadelphia on Thursday, revealed the region's manufacturing activity continued
to grow in November, albeit at a slower pace than in October.
According to
the survey, the diffusion index for current general activity fell from 32.3 in October
to 26.3 this month.
Economists had
forecast the index to decrease to 22.0.
A reading above
0 signals expansion, while a reading below 0 indicates contraction.
According to
the report, the new orders index fell 4.7 points to 37.9, while the current
shipments index declined 21.6 points to 24.9. Meanwhile, the current employment
index surged 14.5 points to 27.2 this month. Elsewhere, the survey’s price
indicators suggest increased price pressure: the prices paid index climbed 10.4
points to 38.9 and the prices received index jumped 11.4 points to 25.4.
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