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For release: November 18, 2004 at noon
Contact: Kathy Dibling, 215-574-4119
The Federal Reserve Bank of Philadelphia today released November’s Business Outlook Survey. Manufacturing activity in the region continues to expand. Survey participants were asked about expected increases in costs for 2005. They were asked if expected increases had lowered their production plans for 2005.
Philadelphia Federal Reserve Senior Economic Analyst Mike Trebing summarized the survey:
"Respondents to this month’s Business Outlook Survey reported that growth in the region’s manufacturing sector is continuing. While indicators for general activity, new orders, and shipments fell slightly from their readings in October, they remain positive and at relatively high levels. Indexes for prices paid fell slightly this month, but more than half of the respondents reported increased prices for inputs. Indicators reflecting the outlook for the next six months showed significant improvement in November."
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 Kathy Dibling, the Bank's assistant media advisor, at (215) 574-4119. The next Business Outlook Survey will be released Dec. 16, 2004, at noon and will be made available on our web site at www.philadelphiafed.org and over PR Newswire. The aggregate historical data series is also available on the Bank's web site.