For immediate release
Contact: Katherine Dibling, Senior Media Representative, (215) 574-4119
Responses to September's Business Outlook Survey suggest that regional manufacturing
activity is continuing to contract, but declines are less widespread than in August. The survey's indicators for activity, shipments, and new orders all remained negative for the second consecutive month. But the diffusion index of current activity increased to -17.5 this month from -30.7 in August.
The broadest indicator of future activity remained positive and rebounded this month,
suggesting that recent declines are not expected to continue over the next six months. The future general activity index increased to 21.4 in September from 1.4 in August.
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. The survey asks about the current pace of business in the participants' plants and their future expectations of business.
To arrange an interview, contact Katherine Dibling, the Bank's senior media representative, at (215) 574-4119. The next Business Outlook Survey will be released at 10 a.m., Thursday, October 20, 2011, and will be made available on our website and over Businesswire. The aggregate historical data series is also available on the Bank’s website.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.