Manufacturing activity in the mid-Atlantic region tumbled unexpectedly in February, adding to recession concerns. Goods producers reported a spike in input costs for the first time in 10 months, despite a slowdown in company price increases—a sign that margin pressures were worsening. The Philadelphia Federal Reserve’s manufacturing index for February fell to -24.3 this month from…
Philadelphia Fed Manufacturing Index Crashes, Adding to Recession Concerns
Philly Fed Manufacturing Data Disappoints, Adding to Signs of a Softening Economy
June 17, 2022
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The manufacturing sector in the Philadelphia region saw a modest contraction in June, according to a report released by the Federal Reserve Bank of Philadelphia on June 16. The Philly Fed Manufacturing Business Outlook Survey’s diffusion index for current general activity fell to -3.3 in June from 2.6 in May, missing the widely anticipated market…
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