South Jersey manufacturers feel optimistic about activity, future

Manufacturing may have turned a corner in the region that includes South Jersey, according to the Federal Reserve Bank of Philadelphia.The Fed said its monthly Manufacturing Business Outlook Survey found that the index for general activity rose in March, the first positive reading in seven months. Other indicators also signaled growth, the Fed added.

Among those indicators were the current new orders index, which also reversed a negative reading, and the current shipments index, which rose sharply. Firms surveyed also pushed unfilled orders and delivery time indexes to strong gains, and inventories declined overall.

Employment indicators, while improved, showed continued weakness, the Fed said. The employment index remained negative despite some growth, while the workweek index rose to its first positive reading in three months.

Price received rose slightly, to the index’s first positive number in nine months; the prices paid index, however, remained negative for the seventh straight month.

Finally, the index for future general activity grew to its highest reading in four months, offering optimism for the sector. Future indexes for new orders, shipments and employment also grew, as did indexes for future prices paid and received.