Philly Fed: Manufacturing firms reported continued growth in October
|"Manufacturing firms reported continued growth in regional manufacturing in October," the Federal Reserve Bank of Philadelphia reported on Thursday.
Key highlights:
- The index for current manufacturing activity in the region increased 4 points to a reading of 27.9 and is now at its highest reading since May.
- More than 39 percent of the firms indicated increases in activity this month, while 11 percent reported decreases.
- Both the new orders and shipments indexes remained positive but fell this month, decreasing 10 points and 13 points, respectively.
- Both the unfilled orders and delivery times indexes were positive for the 12th consecutive month, suggesting longer delivery times and an increase in unfilled orders.
- The current employment index increased 24 points to a record high reading of 30.6.
- The average workweek index also increased 8 points, its highest reading in four months.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.