For release: October 21, 2004 at noon
Contact: Kathy Dibling, 215-574-4119
The Federal Reserve Bank of Philadelphia today released the October Business Outlook Survey. Activity in the region's manufacturing sector continued to improve. This month the participants were asked about their plans and expectations for production in the fourth quarter.
Philadelphia Federal Reserve Senior Economic Analyst Mike Trebing summarized the survey:
"Current indicators suggest that growth in the region's manufacturing sector is continuing. About 40 percent of the firms reported increases in general activity, new orders, and shipments in October. The indexes for prices paid and prices received remained high, although the index for prices received was slightly lower than last month. Although most indicators of current activity suggest improved business conditions, expectations for the next six months fell notably in October."
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, contact Kathy Dibling, the Bank's assistant media advisor, at (215) 574-4119. The next Business Outlook Survey will be released Thursday, November 18, 2004, at noon and will be made available on this web site and over PR Newswire. The annual revisions of historical data can be found on our website.