Moderate expansion of manufacturing in Phila. area
The monthly survey by the Federal Reserve Bank of Philadelphia shows manufacturers reporting that the positives outweighed the negatives in January.
Moderate expansion of manufacturing in Phila. area
Mike Armstrong, Inquirer Columnist
Manufacturing activity in the Philadelphia region expanded in January and more companies reported improving conditions in the labor market.
The widely watched Business Outlook Survey of the Federal Reserve Bank of Philadelphia said the percentage of firms noting an increase in employment was higher than that for firms reporting a decrease -- 21 percent vs. 10 percent.
Still, "moderate" is the word the Philly Fed used for the pace of the expansion of the region's manufacturing sector.
Looking out six months, the future general activity index for January is at its highest level in 10 months and has risen for five consecutive months.
The Philly Fed has been moderately optimistic for a moderately long period of time now and the economy really hasn't picked up. Is anyone still listening?— oneadaysfine- I wonder if the pending shutdown of Sunoco is factored in? That's a whole lot of un-manufacturing.— oldcheme
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980.
Reach Mike at marmstrong@phillynews.com.
