For immediate release
Contact: Katherine Dibling, Senior Media Representative, (215) 574-4119
Regional manufacturing continued to improve in December, according to the firms participating in December's Business Outlook Survey. The general activity index, the survey's broadest measure of manufacturing conditions, increased to 10.3 this month from 3.6 in November.
All of the broad indicators, including those for new orders and employment, remained positive and suggest a modest expansion of activity. The broadest indicator of future activity reflected a trend of increased optimism about growth 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. The survey asks about the current pace of business in the participants' plants and their future expectations of business.
To arrange an interview, contact Katherine Dibling, the Bank's senior media representative, at (215) 574-4119. The survey's annual historical revisions, incorporating new seasonal adjustment factors, will be released at 10 am., on Thursday, January 12, 2012. The next Business Outlook Survey will be released at 10 a.m., Thursday, January 19, 2012, and will be made available on our website and over Businesswire. The aggregate historical data series is also available on the Bank’s website.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.