Philly Fed: Regional manufacturing activity continued to expand, but at a slower pace than last month

Results from the April Manufacturing Business Outlook Survey suggest that regional manufacturing activity continued to expand, but at a slower pace than last month, said the Federal Reserve Bank of Philadelphia.

Key highlights:

  • The diffusion indexes for general activity, new orders, and shipments remained positive but fell from their readings in March.
  • The current employment index, however, improved slightly and continues to suggest expanding employment in the manufacturing sector
  • The survey’s future indicators continued to reflect general optimism but retreated from their high readings in the first three months of the year.