Thursday, April 17, 2014

Philly Fed Manufacturing Survey indicated Faster Expansion in April

by Bill McBride on 4/17/2014 10:29:00 AM

From the Philly Fed: April Manufacturing Survey

Manufacturing activity in the region increased in April, according to firms responding to this month’s Business Outlook Survey. The survey’s broadest indicators for general activity, new orders, shipments, and employment all remained positive and increased from their readings in March. Price pressures remain modest. The surveyʹs indicators of future activity reflected optimism about continued expansion over the next six months, although the indicators have fallen from higher readings in recent months.

The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of 9.0 in March to 16.6 this month, its highest reading since last September.

The employment index remained positive for the 10th consecutive month and increased 5 points, suggesting overall improvement.
emphasis added
This was above the consensus forecast of a reading of 9.1 for April.

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