Philadelphia Area Manufacturing Continues Solid Growth

Manufacturing is up slightly in the Philadelphia area, according to a December Philadelphia Federal Reserve report (link opens as PDF) released today. 

The "Philly Fed" publishes the results of a monthly survey asking regional (eastern Pennsylvania, southern New Jersey, and Delaware) manufacturing stakeholders whether certain components of manufacturing have experienced growth (positive number), or contraction (negative number). Investors watch regional manufacturing reports as a possible signal of larger economic upswings or downturns.

After clocking in at 6.5 for November, analysts had expected December's report to push ahead to 10. Actual results came in at 7.0, below expectations but solid growth nonetheless.  

Source: Philadelphia Federal Reserve. 

Dissecting the index into components, all-important new orders pushed ahead to 15.4 from November's 11.8 reading. Shipments are also up 7.7 points to 13.3, although unfilled orders and delivery times are in the red (-5.0 and -9.0, respectively). 

Looking ahead, December's optimistic report is slightly subdued. The survey's future conditions (six months from now) index registered a 1.8 point decrease, to 44.0. New orders dropped 2.5 points to 45.0, but all components remained in growth territory. 


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2771257, ~/Articles/ArticleHandler.aspx, 4/23/2014 12:38:24 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...