For release: August 16, 2001
Contact: Josh Irons, 215 574-3481
The Federal Reserve Bank of Philadelphia released its Business Outlook Survey for July today. Philadelphia Fed Economic Analyst Mike Trebing summarized the survey:
"Current indicators suggest that business conditions for the regions manufacturing sector continued to deteriorate in August. The indexes for general activity, new orders, and employment were lower than in the previous month. Optimism about growth in the manufacturing sector over the next six months remains high, but plans for capital spending and employment expansion remain tempered."
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, please contact Josh Irons at (215) 574-3481. The next Business Outlook Survey will be released at noon, September 20 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.