Philly Fed Manufacturing Leaps Into Expansion, Highest Reading Since March 2012

The Philadelphia Federal Reserve reports that the general business activity metric of its Philly Fed manufacturing survey increased to a reading of +12.5 in June. This is a significant improvement from April’s reading of -5.2 and moves the index to indicating economic expansion (reading >0) in the manufacturing sector. Additionally, this is the highest the index has been since March of 2012.

June’s reading was composed of 33.9% of survey respondents reporting that business conditions improved during the month, while 21.5% reported that conditions had worsened.

Philly Fed Manufacturing Survey June 2013 600x375 Philly Fed Manufacturing Leaps Into Expansion, Highest Reading Since March 2012

The Philly Fed is the second Federal Reserve bank to report its manufacturing survey results for June. Currently, 3 of the 5 regional manufacturing surveys conducted by Fed banks suggest economic expansion in the manufacturing sector.

Leading US Regional Manufacturing Surveys June 20 2013 600x375 Philly Fed Manufacturing Leaps Into Expansion, Highest Reading Since March 2012

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