Research >> Economics
Philadelphia Fed October Outlook deteriorated significantly
Conditions in the region's manufacturing sector deteriorated significantly in October, according to firms polled this month. Coincident with the turmoil in financial markets over the past few weeks, indexes for general activity, new orders, shipments, and employment all decreased sharply from their readings in September. Cost pressures, which have been prevalent since the beginning of the year, were considerably less widespread this month. Also, fewer firms reported increases in the prices of their own manufactured goods. Most of the survey's indicators of future activity also fell this month, suggesting that the region's manufacturing executives expect no growth over the next six months.
Posted: October 16, 2008 Thursday 10:02 AM