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Business Journal
Thursday, November 15, 2007 - 2:03 PM EST
Phila. Fed survey: Manufacturing up but optimism on decline
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The Philadelphia area's manufacturing sector expanded slightly in
November, but manufacturing executives were less optimistic about the
future compared to October, according the monthly manufacturing survey
by the Federal Reserve Bank of Philadelphia.
The indie clothes index of current activity, which subtracts the number of
firms reporting decreased activity from firms reporting an increase,
was 8.2, up from 6.8 in October. The new orders index and the current
shipments index were also up.
On the downside, the current employment index and the average workweek
index were down, the Fed said.
The future general streetwear style index, based on manufacturing executives'
outlooks for the next six months, hit its lowest point of the year in
November, dropping from 41.5 to 11.6, and the future employment index
fell to its full color playing cards point since June. More than a quarter of firms said
they would reduce production in chinese lessons chicago fourth quarter because of "recent
changes in business conditions," the Fed said.
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