Philadelphia Area Manufacturing Continues Solid Growth
Manufacturing is up slightly in the Philadelphia area, according to a December Philadelphia Federal Reserve report (link opens as PDF) released today.
The "Philly Fed" publishes the results of a monthly survey asking regional (eastern Pennsylvania, southern New Jersey, and Delaware) manufacturing stakeholders whether certain components of manufacturing have experienced growth (positive number), or contraction (negative number). Investors watch regional manufacturing reports as a possible signal of larger economic upswings or downturns.
After clocking in at 6.5 for November, analysts had expected December's report to push ahead to 10. Actual results came in at 7.0, below expectations but solid growth nonetheless.
Dissecting the index into components, all-important new orders pushed ahead to 15.4 from November's 11.8 reading. Shipments are also up 7.7 points to 13.3, although unfilled orders and delivery times are in the red (-5.0 and -9.0, respectively).
Looking ahead, December's optimistic report is slightly subdued. The survey's future conditions (six months from now) index registered a 1.8 point decrease, to 44.0. New orders dropped 2.5 points to 45.0, but all components remained in growth territory.
The article Philadelphia Area Manufacturing Continues Solid Growth originally appeared on Fool.com.You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.