Economic Buzz: Philly Fed Manufacturing Index Jumps In September

Economic Buzz: Philly Fed Manufacturing Index Jumps In September

Sep 17, 2021 09:09 IST capital market

Growth in Philadelphia-area manufacturing activity jumped to 30.7 in September from 19.4 in August, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The unexpected rebound by the headline index was partly due to a notable increase by the shipments index, which surged up to 29.9 in September from 18.9 in August. On the other hand, the new orders index slid to 15.9 in September from 22.8 in August and the number of employees index fell to 26.3 from 32.6. The report showed the prices paid index also dropped to 67.3 in September from 71.2 in August, while the prices received index edged down to 52.9 from 53.9.

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