News Releases
For release: June 17, 2004 at noon
Contact: Kathy Dibling, 215-574-4119,
Katherine.Dibling@phil.frb.org June Survey
Manufacturers See Continuing Growth
The Federal Reserve Bank of Philadelphia today released
June's Business Outlook Survey. The survey participants report that
expansion in the region's manufacturing sector continues. This month the
manufacturers were asked to give their capacity utilization rates and the
percent of their plants and equipment that have become obsolete in the past
year.
Philadelphia Federal Reserve Senior Economic Analyst Mike
Trebing summarized the survey:
"Current indicators suggest that growth in the region's
manufacturing sector is continuing. In the June survey, indexes for general
activity, shipments, and new orders were up from their May readings. The
employment indexes also remained positive this month. Firms reported higher
prices for inputs and for their own manufactured goods, but the prices indexes
were somewhat lower than in May. Manufacturing executives remain generally
optimistic about continued growth in their sector over the next six
months."
This survey, which was started in 1968, gathers
information on the manufacturing industry in the Third Federal Reserve District
covering eastern Pennsylvania, southern New Jersey, and Delaware. Participation
in the survey is limited to manufacturing firms with plants in the area with
more than 100 employees. The survey asks about the current pace of business in
the participants' plants and their future expectations of business.
To arrange an interview, contact Kathy Dibling, the Bank's
assistant media advisor, at (215) 574-4119. The next Business Outlook
Survey will be released Thursday, July 15, 2004, at noon and will be made
available on this web site and over PR Newswire. The annual revisions of
historical data can be found at
http://www.philadelphiafed.org/econ/bos/boshistory.html.
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