S. Jersey manufacturing activity down in July, Philly Fed says

Manufacturing activity fell during July in the region that includes South Jersey, according to the Federal Reserve Bank of Philadelphia’s monthly Manufacturing Business Outlook Survey.The survey’s index of current activity fell into negative territory for the month, the Philadelphia Fed said Thursday, meaning the index has been in the minus column for nine of the past 11 months.

On the upside, the new orders index and the current shipment index both moved into positive territory for the month, reflecting expanded demand.

The current employment index rose, though it remained negative for the month.

The prices paid index fell, as did the prices received index, the Fed added.

If current conditions were considered negative, the outlook was brighter for the future, as the index of future activity rose.

The future index for new orders was level, while the index for shipments fell and the employment index rose.