Drops in productional activity of US companies
Manufacturing activity in the Philadelphia region of Notes in December fall under the pressure of deepening recession in the U.S., but the reduction is less than expected. The main economic index, the Federal Reserve Bank of Philadelphia rose during this month to minus 32.9 points in November after the value of the indicator was minus 39.3 points.
In 2007 the average index of manufacturing activity was 5.1 percentage points. Consolidated market expectations were for the index to drop to minus 40 points. Fed index of manufacturing activity in Philadelphia presents the outcome of the inquiry producers in the fifth largest city in the U.S. attitude towards the current economic information, such as values below 0 indicator slowing pace of economic development.
According to the study supporting new orders index in Philadelphia fell to minus 25.2 points after 31.4 points in November. Auxiliary index for the transport of goods decreased to minus 28.7 points in December, this being its lowest level since February 2001 onwards to minus 18.8 points in November. The index of prices paid fell to minus 33.2 points in November after they were registered 30.7 points. The index of producer prices received in Philadelphia in October decreased to minus 33.2 points to minus 30.7 points in November, while the employment index decreased to minus 28.7 points, its lowest level since September 1982 to minus 25.2 points in November. The Indicator of economic expectations of business in Philadelphia for the next six months has increased to pessimism, as its value fell to minus 14.5 points in December to minus 10.4 points in November.
Overall, despite the slight rise in its value indicator remained negative, most of auxiliary indexes signing decreases as the decline in economic expectations shows that likely contraction in economic activity will continue in coming months.
Labels: Business News, Financial News, Politic News
posted by Zoritza Petrova @ 11:50 AM
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