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Philadelphia Fed Manufacturing Index Falls To 12.9 In November

Kitco News

(Kitco News) - The headline index for a survey of manufacturers in the Philadelphia area weakened in November, according to a report released Thursday.

The index for current general activity in the Philadelphia Fed’s manufacturing business outlook survey fell 12.9 to from 22.2 in October, the regional bank said. This was the lowest reading since August.

Most consensus expectations compiled by various news organizations were for a reading of somewhere around 20.0.

The index for new orders fell from 19.3 to 9.1, while the shipments index slid to 21.6 from 24.5.

Changes in the inflation readings were mixed. The index for prices paid edged up to 39.3 from 38.2, while the one for prices received fell to 21.9 from 24.1.

The employment readings softened. The index for number of employees fell to 16.3 from 19.5, while the reading for average workweek slid to 6.3 from 20.8.

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