facebook
twitter
rss
account
search
search
 

Region straddling line from growth to contraction month to month

Nov. 15, 2012 at 2:02 PM   |   Comments

PHILADELPHIA, Nov. 15 (UPI) -- The Philadelphia Federal Reserve Bank said its key mid-Atlantic manufacturing index dropped sharply in November, falling back into a contraction.

The business survey, taken midway through the month, found the diffusion index of manufacturing activity lost 16 points to minus 10.7, falling below the break even level of zero, where it had been for six months.of the past seven months.

The component index for new orders lost four points to reach minus 4.6.

The index for employment, measuring the number of employees, rose from minus 10.7 to minus 6.8, a slight improvement, although the index has shown a contraction in employment for five consecutive months.

In the month, 32 percent of respondents to the Fed's survey indicated declining business activity in the first half of November, while 21 percent indicated business growth.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Raytheon supplying Japan with Phalanx upgrade kits Raytheon supplying Japan with Phalanx upgrade kits
2
Russia completes helicopter deliveries to Afghanistan Russia completes helicopter deliveries to Afghanistan
3
Victoria's Secret receives backlash after 'Perfect Body' ad campaign Victoria's Secret receives backlash after 'Perfect Body' ad campaign
4
French submarines to get new torpedoes French submarines to get new torpedoes
5
Insitu Inc. announces next-generation ScanEagle 2 Insitu Inc. announces next-generation ScanEagle 2
Trending News
Around the Web
x
Feedback