Widget Image
Follow PPD Social Media
Connect With PPD
Monday, December 16, 2019
HomeNewsEconomyPhiladelphia Fed Manufacturing Business Outlook Survey Rebounds Strongly in July

Philadelphia Fed Manufacturing Business Outlook Survey Rebounds Strongly in July

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

Employment Index Rises to Highest Level Since October 2017

The Philadelphia Fed Manufacturing Business Outlook Survey rebounded strongly in July, rising 21.5 points in July to crush the 4.5 consensus forecast. The diffusion index for current general activity more than recovered its losses from last month, increasing from 0.3 in June to 21.8.

Over 36% of the firms reported higher employment, compared with 25% last month. Only 6% reported decreases in employment this month.

The current employment index increased 15 points to 30.0, its highest reading since October 2017. The average workweek index also increased 16 points, hitting its highest reading in 14 months.

Over 36% of the firms reported higher employment juxtaposed to 25% last month. Only 6% reported decreases in employment this month. The current
employment index soared 15 points to 30.0, the highest reading since October 2017.

The Manufacturing Business Outlook Survey is a monthly survey of manufacturers in the Third Federal Reserve District.

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.