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Last Update: 19-Jan-12 12:21 ET
Manufacturing Activities Accelerate in Philly Region
According to the Philadelphia Fed's Business Outlook, manufacturing activities accelerated in January as the index increased from a downwardly revised 6.8 (from 10.3) in December to 7.3. The Briefing.com consensus expected the index to increase to 10.0.
New orders and shipments continued to expand, but at a slower rate. The shipments index declined from 9.1 in December to 5.7 in January. The new orders index fell to 6.9 from 10.7.
Shipments in January were temporarily boosted by paring down unfilled orders. The unfilled orders index contracted in January, falling from 5.1 in December to -4.1 in January. Without continued growth in new orders, a contraction in shipments in the near future is possible.
The employment index was essentially unchanged in January, increasing from 11.5 in December to 11.6.
New orders and shipments continued to expand, but at a slower rate. The shipments index declined from 9.1 in December to 5.7 in January. The new orders index fell to 6.9 from 10.7.
Shipments in January were temporarily boosted by paring down unfilled orders. The unfilled orders index contracted in January, falling from 5.1 in December to -4.1 in January. Without continued growth in new orders, a contraction in shipments in the near future is possible.
The employment index was essentially unchanged in January, increasing from 11.5 in December to 11.6.
