For release: April 19, 2001
Contact: Marilyn Wimp (215) 574-4197
The Philadelphia Federal Reserve Bank released its Business Outlook Survey for April today. Philadelphia Federal Reserve Economic Analyst Mike Trebing summarized the survey:
"Most current indicators this month show some continued weakness in the regions manufacturing sector. Weakness is reported in general activity, new orders, and especially employment. Increases in some indicators, however, suggest that the declines are less severe than in the first few months of the year. The surveyed firms remain optimistic that business over the next six months will recover from current depressed levels."
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.
Starting June 2001, the Business Outlook Survey will be released at 12 noon E.T. on the third Thursday of each month instead of its current time of 10 a.m. E.T. Next month's Business Outlook Survey will be released May 17 at 10 a.m. E.T. and will be made available on this Web site and over PR Newswire. The aggregate historical data series is also available at http://www.philadelphiafed.org/econ/bos/boshistory.html.
To arrange an interview, please contact Marilyn Wimp the Bank's media representative at (215) 574-4197.