Mid-Atlantic Manufacturing Sector Contracting Again
From Econoday.com
Released on 8/19/2010 10:00:00 AM For Aug, 2010 PriorConsensusConsensus RangeActual General Business Conditions Index - Level5.1 7.0 -0.6 to 10.0 -7.7
Highlights
Manufacturing indications out of the Mid-Atlantic region are decidedly negative for August. The Philadelphia Fed's general business conditions index fell to minus 7.7 to indicate month-to-month contraction in business activity. New orders, at minus 7.1, show a second straight monthly decline in what is a definitive indication of weakness. Unfilled orders extended a run of declines. Shipments also fell in the month as did employment and the workweek. Inventories also fell while delivery times quickened. Today's report is significantly weaker than Monday's soft Empire State report. Together they point to trouble for August manufacturing data.
Released on 8/19/2010 10:00:00 AM For Aug, 2010 PriorConsensusConsensus RangeActual General Business Conditions Index - Level5.1 7.0 -0.6 to 10.0 -7.7
Highlights
Manufacturing indications out of the Mid-Atlantic region are decidedly negative for August. The Philadelphia Fed's general business conditions index fell to minus 7.7 to indicate month-to-month contraction in business activity. New orders, at minus 7.1, show a second straight monthly decline in what is a definitive indication of weakness. Unfilled orders extended a run of declines. Shipments also fell in the month as did employment and the workweek. Inventories also fell while delivery times quickened. Today's report is significantly weaker than Monday's soft Empire State report. Together they point to trouble for August manufacturing data.