For release: Thursday, April 20, 2006, at noon
Contact: Katherine Dibling at (215) 574-4119
The Federal Reserve Bank of Philadelphia today released April’s Business Outlook Survey. Business activity increased again in April, according to the firms participating in the survey. The indicator for employment rose appreciably. In the special questions, participants were asked about demand for their products over the last three months.
Philadelphia Federal Reserve Senior Economic Analyst Mike Trebing summarized the survey: “Indicators from this month’s Business Outlook Survey reflect continued growth in the region’s manufacturing sector. Indexes for general activity and employment rose from their readings in March. Although indexes for new orders and shipments fell modestly, they remained positive. Many of the surveyed firms continue to report rising prices for inputs and their own manufactured goods. The executives who responded to the survey in April continue to anticipate increases in business over the next six months, and most of the survey’s future indicators showed improvement this month.”
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, May 18, 2006, and will be made available on our website and over PR Newswire. The aggregate historical data series is also available on the Bank's web site.