Philly Fed: General activity remained positive but decreased 15 points in June
|"The diffusion index for current general activity remained positive but decreased 15 points this month," the Federal Reserve Bank of Philadelphia said in its latest report highlighting the results from the June Manufacturing Business Outlook Survey.
Key takeaways
- The new orders index fell nearly 23 points this month.
- While 38 percent of the firms reported an increase in orders, 20 percent reported declines.
- The current shipments index increased 3 points.
- The firms continued to report overall increases in employment.
- Nearly 34 percent of the responding firms reported increases in employment this month, while 3 percent reported decreases.
- The firms continued to report higher prices for both purchased inputs and their own manufactured goods, although the survey’s price indicators fell modestly from their May readings.
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