Philly Fed finds improvements in manufacturing activity

The Federal Reserve Bank of Philadelphia reported Thursday that there has been improvements in manufacturing activity in August in the region that includes South Jersey.The Fed reported in its Monthly Manufacturing Business Outlook Survey that its indicator for current general activity fell slightly negative for the month, but continued to reflect growth.

Other indicators were also positive, with employment showing modest growth and work hours showing overall increases.

The survey’s index for general activity increased from its reading last month — which is now its highest reading in four month. Other indicators, like new orders and shipments, also increased from their July readings.

The prices index found that prices paid and prices received landed in the positive. Manufactured goods prices also showed an increase this month.

Finally, the Fed said the index of future activity predicted a continuation of growth over the next six months.