Widget Image
Follow PPD Social Media
Connect With PPD
Monday, July 15, 2019
HomeNewsEconomyManufacturing Business Outlook Survey Falls to Lowest Level Since August

Manufacturing Business Outlook Survey Falls to Lowest Level Since August

A manufacturing assembly line at the Heinz factory in Pittsburgh, Pennsylvania. (Photo: Courtesy of Heinz)
A manufacturing assembly line at the Heinz factory in Pittsburgh, Pennsylvania. (Photo: Courtesy of Heinz)

A manufacturing assembly line at the Heinz factory in Pittsburgh, Pennsylvania. (Photo: Courtesy of Heinz)

The Philadelphia Federal Reserve Manufacturing Business Outlook Survey decreased from 22.2 in October to 12.9 in November, the lowest since August. The report widely missed the consensus forecast, coming in lower than the lowest forecast range.

[su_table responsive=”yes”]

Released On 11/15/2018 8:30:00 AM For Nov, 2018

Prior Consensus Consensus Range Actual
General Business Conditions Index – Level 22.2 20.0 18.3  to 22.0 12.9 

[/su_table]

Nearly 35% of the manufacturers reported increases in overall activity for November, while 22% reported decreases. Optimism in both current conditions post-October and in the 6-month outlooks took a toll, as new orders fell 10 points to 9.1.

The current shipments index fell 3  points to 21.6. However, firms reported an increase in inventories during November and, following two months of negative readings, the inventories index rose 10 points to 9.5.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.