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Last Update: 15-Dec-11 10:13 ET
Philly Fed Business Outlook Improves in December
Manufacturing conditions in the Philadelphia Fed region improved in December as the Philadelphia Fed's Business Outlook increased from 3.6 in November to 10.3 in December.
New and unfilled orders both strengthened in December. The New Orders Index increased from 1.3 in November to 9.7 in December. Unfilled orders returned to an expansion mode, increasing from -1.5 in November to 7.2 in December.
In a slightly unusual twist, the gains in orders did not immediately affect growth in shipments. While shipments continued to expand in December, the rate of expansion softened slightly as the respective index fell from 7.3 in November to 6.7. The drop was most likely the result of the pickup in unfilled orders and should lead to stronger growth over the next few months.
The employment outlook weakened in December. The Number of Employees Index fell from 12.0 in November to 10.7 in December. At the same time, the Average Employees Workweek Index dropped from 11.0 to 2.5.
New and unfilled orders both strengthened in December. The New Orders Index increased from 1.3 in November to 9.7 in December. Unfilled orders returned to an expansion mode, increasing from -1.5 in November to 7.2 in December.
In a slightly unusual twist, the gains in orders did not immediately affect growth in shipments. While shipments continued to expand in December, the rate of expansion softened slightly as the respective index fell from 7.3 in November to 6.7. The drop was most likely the result of the pickup in unfilled orders and should lead to stronger growth over the next few months.
The employment outlook weakened in December. The Number of Employees Index fell from 12.0 in November to 10.7 in December. At the same time, the Average Employees Workweek Index dropped from 11.0 to 2.5.
