Philly Fed finds manufacturing activity declined this month

Emily Bader//January 21, 2016

The Federal Reserve Bank of Philadelphia reported Thursday that manufacturing activity declined in January in the region that includes South Jersey.The Fed reported in its Monthly Manufacturing Business Outlook Survey that the general activity index remaining negative, however it did rebound from a lower reading in December.

There was some mixed signals in the other indicators, although most were still in the negative. The index for current new orders fell, but shipments increased this month.

When it comes to the labor market, the news isn’t great, as indicators for employment were generally weaker in the survey. The future employment index fell this month, which is the lowest reading since November 2012.

The current prices index fell slightly, as more firms reported lower prices than higher ones; most firms reported no change. The prices paid for input increased even with the index recording seven consecutive negative readings.

Finally, the index of future activity slipped to its lowest rating since November 2012.