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US regional manufacturing continues to grow in November: Survey

Houston, November 19 (Xinhua)-Thursday, the Federal Reserve Bank of Philadelphia reported that local manufacturing activity continued to grow in November.

According to the November Manufacturing Outlook Survey, current indicators of general activity, new orders and shipments remained positive for the sixth straight month, but fell from October measurements. Most future indices have also eased this month, but continued to show that companies expect growth over the next six months.

The current activity diffusion index fell 6 points in November to 26.3., After reaching long-term lows in April and May, it has been positive for the sixth consecutive time.

The percentage of companies reporting an increase this month is higher than the percentage reporting a decline. The index for new orders decreased by 5 points to 37.9. The current shipment index for November fell 22 points to 24.9.

According to the survey, the current employment index for this month rose 15 points to 27.2. Increased employment was reported by 34% of companies and 7% reported a decrease.

Respondents recorded weaker expectations for growth compared to October. The diffusion index of general activity in the future fell 18 points in November to 44.3. The percentage of companies expecting growth over the next six months remained significantly higher than the percentage expected to decline.

The Manufacturing Business Outlook Survey is a monthly survey of manufacturers of the Third Federal Reserve Board of Governors in eastern Pennsylvania, southern New Jersey, and Delaware.

The Federal Reserve Bank of Philadelphia is one of the 12 Regional Federal Reserve Banks that make up the Federal Reserve with the Washington, DC-based Board of Directors.

US regional manufacturing continues to grow in November: Survey

Source link US regional manufacturing continues to grow in November: Survey

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