For release: Thursday, February 16, 2006, at noon
Contact: Katherine Dibling at (215) 574-4119
The Federal Reserve Bank of Philadelphia today released February’s Business Outlook Survey. The pace of manufacturing activity increased this month. Indicators for general activity, new orders, and shipments improved from last month. Manufacturers were asked about any plans for relocation over the next five years.
Philadelphia Federal Reserve Senior Economic Analyst Mike Trebing summarized the survey:
"Respondents to our Business Outlook Survey reported that the pace of growth in the region’s manufacturing sector has picked up this month. Indexes for general activity, new orders, and shipments were all up from their levels in January. Firms continued to report higher prices for inputs and for their final manufactured goods, but the survey’s price indexes suggest upward price pressures have been moderating. The executives who responded to the survey this month remain generally optimistic about future growth for their businesses."
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, please contact Katherine Dibling, the Bank's assistant media advisor, at (215) 574-4119.
The next Business Outlook Survey will be released at noon Thursday, March 16, 2006, and will be made available on our web site and over PR Newswire. The aggregate historical data series is also available on the Bank's web site.