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Philadelphia Fed finds improvement in regional manufacturing activity

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The Federal Reserve Bank of Philadelphia reported in its Monthly Manufacturing Business Outlook Survey that regional manufacturing activity in the region that includes South Jersey continues to expand.

The survey said the diffusion index for general activity fell from its high reading in February.

But other indicators were positive, with both employment and work hours rising. The survey’s index for new orders and shipments also moved up.

The prices index found that prices paid and prices received both landed in positive territory, according to reported firms. Manufactured goods prices also increased this month.

Finally, the Fed said the index for future activity continued to improve, with 66 percent of manufacturers expecting increases in activity over the next six months.

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