Economic Buzz: Philly Fed Manufacturing Index Improves To 3-Month High In March

Manufacturing activity in the Philadelphia-region expanded at the fastest pace in three months in March, official data showed on Thursday. According to the data released by the Federal Reserve Bank of Philadelphia, the survey's broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of -12.5 in February to 2.0 this month. On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.

Manufacturers responding to the March Business Outlook Survey reported slight increases in business activity this month. Indicators for general activity and new orders increased notably, following negative readings over the previous two months. Indicators for shipments and employment remained positive and improved slightly this month. Changes in the survey's broad indicators of future activity were mixed but continued to reflect general optimism about growth over the next six months.
Source by Commodity Insights