Posted June 16, 2011
Philadelphia manufacturing weakens
Responses to the Philadelphia Fed Business Outlook Survey suggest that regional manufacturing activity weakened in June.
The survey's indicators for activity and new orders turned negative this month, while indicators for shipments and employment fell but remained slightly positive. Indicators for prices show a continuing trend of moderating price pressures. The broadest indicator of future activity fell sharply in June, recording its lowest reading in 31 months.
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