Economy
Philadelphia Fed Reports Improved Manufacturing Conditions
Written by Sandy Williams
June 18, 2015
Manufacturing conditions in the Philadelphia area improved in June, according to the June Manufacturing Business Outlook Survey published by the Federal Reserve Bank of Philadelphia.
The survey’s indicators for general activity, new orders, and shipments all improved from their readings in May. The headline diffusion index for current activity increased to 15.2 in June from 6.7 in May.
Employment levels increased modestly this month. Survey respondents reported higher prices for inputs and more price increase than decrease for their own manufactured products.
Philadelphia manufacturers are expecting improving conditions during the next six months, in particular for future new orders and shipments. The future employment index was flat, increasing just one point in June. The future capital expenditures index was as its lowest reading since March 2013, falling 9 points this month.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Architecture billings flat in October after months of contraction
Architecture firms reported stable billings in October, according to the latest Architecture Billings Index (ABI) released by the American Institute of Architects (AIA) and Deltek. This follows 20 months of contracting business conditions.
Trump taps Lutnick to be Commerce Secretary
President-elect Donald Trump has named Wall Street veteran Howard Lutnick as the new US Secretary of Commerce.
New York state manufacturing activity ramps up to multi-year high
New York state’s manufacturing sector saw substantial recovery in November, according to the latest Empire State Manufacturing Survey from the Federal Reserve Bank of New York.
CRU: Dollar and bond yields rise, metal prices fall as Trump wins election
Donald Trump has won the US presidential election. The Republican party has re-taken control of the Senate. Votes are still being counted in many tight congressional races. But based on results so far, the Republicans seem likely to maintain control of the House of Representatives. If confirmed, this will give Trump considerable scope to pass legislation pursuing his agenda. What this means for US policy is not immediately obvious. Trump will not be inaugurated until Jan. 20. In the coming weeks and months, he will begin to assemble his cabinet, which may give a clearer signal on his policy priorities and approaches. Based on statements he made during the presidential campaign, we have set out the likely direction of his economic policy here and green policy here.
ISM: Manufacturing index fell in Oct to lowest point of ’24
Domestic manufacturing contracted for the seventh straight month in October, according to the latest report from the Institute for Supply Management (ISM). This marks the 23rd time in the last 24 months that it has been in contraction.