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Manufacturers See Rise in Business Activity

For release: April 15, 2004 at noon
Contact: Kathy Woodbury, 215-574-4119

The Federal Reserve Bank of Philadelphia today released the April Business Outlook Survey. Current indicators suggest growth in the region's manufacturing sector is continuing. This month, the participants were asked about the qualifications of their job applicants.

Philadelphia Federal Reserve Senior Economic Analyst Mike Trebing summarized the survey:

"Current indicators suggest that growth in the region's manufacturing sector is continuing. The survey's indicators for general activity, new orders, and shipments increased this month and remain at high levels. The employment indexes also remained positive this month. Firms continue to report a rise in prices for inputs and for finished goods, although price indexes fell back from their recent highs. The manufacturers polled remain optimistic about overall growth in the next six months."

This survey, which was started in 1968, gathers information on the manufacturing industry in the Third Federal Reserve District covering eastern Pennsylvania, southern New Jersey, and Delaware. Participation in the survey is limited to manufacturing firms with plants in the area with more than 100 employees. The survey asks about the current pace of business in the participants' plants and their future expectations of business.

To arrange an interview, contact Kathy Woodbury, the Bank's assistant media advisor, at (215) 574-4119. The next Business Outlook Survey will be released Thursday, May 20, 2004, at noon and will be made available on this web site and over PR Newswire. The annual revisions of historical data can be found at http://www.philadelphiafed.org/econ/bos/boshistory.html.

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Media Contacts

Marilyn Wimp, ABC E-mail
Manager of Media Relations
(215) 574-4197
(267) 254-4555 (cell)

Daneil Mazone E-mail
Media Relations Representative
(215) 574-7163
(267) 535-1808 (cell)