Will Manufacturing Lead a Labor Market Recovery?

The Federal Reserve Bank of Philadelphia reported on Thursday that manufacturing in the Third Federal Reserve District (the mid-Atlantic region) declined in February, despite the national trend towards growth. After posting a general conditions reading of -5.8 in January, the index fell to -12.5 in February, far below consensus estimates for a reading of 1.1.

The Philadelphia Business Outlook Survey asks participants to indicate the direction of change in overall business activity in a variety of areas, such as employment, working hours, new and unfilled orders, prices paid, and prices received. February’s negative Philly Fed survey posed a stark contrast to the Markit Flash PMI Manufacturing report, which showed that manufacturing across the U.S. as a whole remained strong for the month, although the rate of growth slowed.

These stocks are hitting our Profit Targets. Click here now to discover winning stocks!

The Philly Fed survey was broadly negative, but it did show improvement in some key areas…

More Articles About:   , ,